Saudi Arabia
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The next chapter of the renminbi internationalisation process could soon be taking place in the commodities market with Amundi Asset Management predicting the rise of petro-renminbi in 2017. -
Strong credit fundaments and a supportive technical bid from local investors should help the GCC’s borrowers to weather any volatility thrown at them in 2017. But analysts warn of political threats putting negative pressure on the region’s bond prices. Virginia Furness reports.
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Saudi Arabia's International Company for Water and Power Projects (ACWA Power) has pushed back its bond plans to 2017 after investors asked for more time to “understand the structure fully”. The target coupon, which investors told GlobalCapital was too low, will also be readdressed, according to a lead banker.
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Five lenders have joined HSBC at the top level of Saudi British Bank’s (SABB’s) $450m syndicated loan, the bank’s first dollar deal from international lenders.
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EM bankers and investors were on Thursday underwhelmed by the Organisation of the Petroleum Exporting Countries' (OPEC) agreement to cut oil production for the first time in nearly eight years. But they said it was a positive that the price of Brent crude oil had seemingly found a floor.
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The Islamic Development Bank (IsDB) printed the first public dollar trade from the EMEA region since the November 8 US elections on Wednesday and managed to drive pricing inside its curve.
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The Islamic Development Bank is marketing a sukuk, the second Islamic bond in two weeks. The deal is expected to be priced on Wednesday.
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Saudi Arabia’s International Co for Water and Power Projects (ACWA Power) is lining up the first corporate bond from the country since the sovereign’s $17.5bn debt sale in October. But ACWA’s “complicated” bond has left some investors perplexed and planning to sit out the trade. However, the bookrunners say there are decent anchor orders to support the book nonetheless, writes Virginia Furness.
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Emerging market bond prices have begun to stabilise following the recent rout. The brief spell of stability before Thursday's Thanksgiving holiday in the US will come as welcome relief to the three issuers in the market on Wednesday.
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Saudi Arabia's International Company for Water and Power Projects (ACWA Power) is lining up the first corporate bond from the country since the sovereign’s $17.5bn debt sale in October. The issuer has a tricky market calendar to navigate but plans to print the $1bn deal before year end, and is expected to offer a pick-up over the sovereign.
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CEEMEA borrowers raised $37bn of euro and dollar bonds in October, making it the busiest month on record.
