Saudi Arabia
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Petrochemicals company Saudi Basic Industries Corporation (Sabic) is in the market on Tuesday with a dual tranche dollar deal. -
Abu Dhabi based real estate company Aldar hit screens on Monday morning with a seven year sukuk, but the deal seems to be relying on heavy support from leads.
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Saudi Basic Industries Corporation (Sabic) has selected banks for its first trip to the bond market for five years, angling to refinance a bond maturing next week.
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Saudi Electricity Company issued a $2bn dual tranche Sukuk bond on Thursday, an issue which gathered $7bn of demand.
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Saudi Electric has become the latest issuer from the Middle East to pile into the market this week, releasing guidance for a dual tranche sukuk. Combined books for the note are over $3bn.
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The Islamic Development Bank’s five year sukuk trade appears to be meeting with a warm response, allowing the leads to pull in the spread by several basis points.
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The Islamic Development Bank has announced a five year sukuk benchmark in dollars, which leads expect to price on Wednesday.
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Emerging markets were treated to their first week of supply from the Gulf region in four months, and despite the sudden glut of supply, performances were strong and the market is ready for more.
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The Saudi Electricity Company (SEC) has joined the groaning pipeline of issuers looking to print dollar sukuk paper, picking banks for what will be the borrower’s first trip to the bond market in four years.
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Saudi Arabia has come to market for a long 10 year dollar sukuk bond, targeting $2bn, returning for a trade after five month’s absence from the bond market.
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Investors’ eyes are on the Middle East this week as a slew of borrowers bring Sukuk trades to market, but while hopes are high for successful deals, a Turkish central bank rate decision looms large in investors’ minds.
