United Arab Emirates
-
Galaxy Pipeline Assets Bidco, an investor consortium that leased pipelines from Abu Dhabi National Oil Company (Adnoc) last year in a partnership deal, sold a $3.9bn senior secured dual tranche bond this week, just months after raising $4bn. -
Galaxy Pipeline Assets, the group of international investors that provided Abu Dhabi National Oil Company (Adnoc) with $10bn in a pipeline partnership deal last year, has re-entered debt capital markets just months after it sold what some involved in the deal claimed was one of the biggest project bonds ever.
-
First Abu Dhabi Bank, the United Arab Emirates’ largest bank, came to market to sell a sterling bond on Tuesday, having already issued a number of deals since the start of the year.
-
A burst of mandates on Monday confirmed what many market participants had expected: a rise in emerging market corporate bond supply.
-
A flurry of Gulf issuers was on track on Tuesday to securing last minute bond funding, as investor appetite appeared insatiable for emerging market debt amid a rally that may well be curtailed by the impending US Thanksgiving holiday.
-
Emerging market issuers have crept back into the small issuance window in international markets after a brief pause for the US elections, with Dubai Islamic Bank and Uzbekistan’s Ipoteka Bank issuing dollar-denominated bonds this week.
-
Etihad Airways issued the first transition sukuk this week, a $600m deal, further burnishing its green credentials after issuing a loan linked to the UN’s Sustainable Development Goals less than a year ago.
-
Galaxy Pipeline Assets Bidco, a group of international investors that provided Abu Dhabi National Oil Company (Adnoc) with $8bn in a pipeline partnership deal earlier this year, has raised a $4bn triple tranche bond to refinance half of the loan that funded the team-up. The deal is, according to banks, the largest project bond ever raised.
-
The Emirate of Sharjah, which last entered markets this June with a Formosa bond, approached investors this week to raise $250m from a tap.
-
Two CEEMEA issuers mandated banks to arrange investor calls on Monday, although bond issuance volumes are expected to wane in coming weeks.
