United Arab Emirates
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Emirati state-owned Mamoura Diversified Global Holding returned to the MTN market this week to sell its first private placement since its parents’ merger in 2017. -
The Emirate of Abu Dhabi, one of the highest rated sovereign issuers in the Middle East, was in the market on Tuesday for a seven year dollar bond less than a year after it broke records by issuing the Gulf's longest ever bond.
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Two emerging market bank issuers, Emirates NBD Bank and Absa Group, launched additional tier one bonds on Thursday, as the popularity of the bank capital tool grows.
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Two emerging market bank issuers, Emirates NBD Bank and Absa Group, launched additional tier one bonds on Thursday, as the popularity of the bank capital tool grows.
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Emirates NBD, the biggest bank in Dubai, has mandated banks to arrange an additional tier one (At1) deal. It will follow another bank from emirate, Dubai Islamic Bank, which recently broke records with its own AT1 transaction.
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Emirates telecom provider Etisalat landed in the euro market with a bond on Thursday, raising €1bn across two tranches in a currency that is fast becoming a home for EM borrowers.
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Emirates Telecommunications company (Etisalat) was preparing on Tuesday for a dual tranche euro deal, while Commercial Bank Qatar was looking for a five year dollar bond.
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Emerging markets bond buyers and issuers are regaining confidence as US Treasury volatility falls, with issuance in CEEMEA and Latin America having picked up in recent days and a pipeline building.
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Kuwait’s Equate Petrochemicals and Abu Dhabi’s Taqa issued bonds this week, and bankers say issuance volumes are set to pick up further.
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Dubai Islamic Bank priced the region's tightest ever additional tier one (AT1) bond this week, which may inspire other issuers into the market.
