United Arab Emirates
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The IPO of Adnoc Drilling is expected to be one of the largest flotations in the Middle East this year
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The UAE's largest bank has concluded its debt-raising for 2021
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The sustainability-linked loan is the largest corporate, non-government-linked loan of its kind in the Middle East
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Middle East loans bankers pin hopes on second half of year, as data shows number of signed deals continuing to decline
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First Abu Dhabi Bank has sold its inaugural bond linked to the secured overnight financing rate (Sofr), becoming the first borrower in the United Arab Emirates to do so.
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ING has promoted Sebastian Frederiks to become head of wholesale banking for the Middle East.
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A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, after a series of eye-catching transactions in recent weeks following the biggest IPO in the area for almost three years.
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Banks wrapped up the $730m-equivalent IPO of Abu Dhabi satellite company Yahsat on Thursday with high levels of demand, particularly from local investors.
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The IPO of Al Yah Satellite Communications Co, the Abu Dhabi satellite company, is covered throughout the initial price range, on a 30% deal size, according to sources close to the deal.
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The Emirate of Sharjah is returning to the international bond market just months after its last visit, but this time marketing a sukuk that will place it among the ranks of major emerging market issuers — both sovereign and corporate — to have raised cash at competitive levels recently with the Sharia-compliant instrument.
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Emaar Properties, the UAE-based luxury real estate developer, was planning to sell a dollar sukuk on Tuesday. It followed a string of emerging market Sharia-compliant trades in recent weeks that have been absorbed by a hungry investor base.