Saudi Arabia

Bond volumes from the Middle East are likely to outstrip last year’s, thanks to some jumbo-sized new issues. But before the giants awake, a debut borrower is set to emerge next week.

Saudi Aramco is rumoured to have mandated banks for a bond planned later this year, but bankers and investors believe there is still a long road before a deal emerges.

Nasdaq Dubai has entered into a licensing agreement to offer derivatives based on the FTSE Russell Saudi Arabia equity indices.

A fresh round of US sanctions on Venezuela’s government will add to the pressure on 46th president of Venezuela Nicolas Maduro to clear off, said bond investors.

Confidence is sweeping through the CEEMEA bond market as huge volumes for some of 2018’s most maligned issuers have pushed volumes up to record breaking levels for the first fortnight of a year. But despite the strong start, some bankers are concerned that the difficulties of last year are a whisker away from making a comeback. Francesca Young, Lewis McLellan and Sam Kerr report.

Rating: A1/—/A+

Saudi Arabia's $7.5bn bond, issued on Wednesday, met with little resistance from investors, despite international condemnation of the killing of Jamal Khashoggi at the country's consulate in Istanbul last year. The lead managers built a $27bn book for the deal.

Saudi Arabia is expected to print large tranches for its new 2029 and 2050 bond issue but will need to pay up for them in its first deal since the killing of journalist Jamal Khashoggi at the country's consulate in Istanbul last year.

Emerging markets have leapt back into action as investors take full advantage of the wider levels on offer in the asset class. Even some of the sector’s most turbulent credits are coming to market.

The Middle East has been fuelling business in the CEEMEA bond and loan markets for the last 12 months. That looks set to persist in 2019, when the region’s big hitters are expected to come with multi-billion dollar financing needs to both markets. Michael Turner and Francesca Young report.

A host of emerging market opportunities are set to be presented to equity investors in 2019 with Kazakhstan likely to lead the way with a number of highly anticipated listings. Sam Kerr reports.

Emerging markets, reeling from a dreadful fourth quarter, should return to form in January, in spite of the bad conditions prevailing in the broader market.