United Arab Emirates
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The National Bank of Ras Al-Khaimah came to market for $500m on Tuesday, managing to slice 25bp from initial price thoughts to the final spread. -
Network International, the Dubai-based payments company listing in London, was covered throughout its price range on its first day of bookbuilding on Monday. It built on a surge of momentum after it announced US firm Mastercard as a cornerstone investor in its IPO in March.
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The National Bank of Ras Al-Khaimah has picked banks for a dollar benchmark, keeping up the steady flow of Middle Eastern paper.
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Middle-Eastern payments company Network International is getting plenty of traction in pre-marketing for its IPO on the London Stock Exchange and has garnered interest from investors interested in anchoring the transaction, according to sources close to the IPO.
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Qatar National Bank hit the market on Thursday, nipping into the market just behind Qatar Islamic Bank’s $750m five year sukuk. Its Middle Eastern neighbour, Sharjah, is going on the road to promote its own sukuk.
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Dubai-based payments company Network International has kicked off investor education for its IPO on the London Stock Exchange, which is expected to value the business in the region of $3bn, according to a source close to the deal.
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Emirates NBD came to market for its first additional tier one bond on Wednesday morning, printing what what data suggests is the Middle East’s largest ever deal in the format.
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Emirates NBD has picked banks for a bond in the additional tier one format, aiming to be the second such deal from a Middle East bank this year.
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The first issuer representing the United Arab Emirates (UAE) as a federal entity came to market this week. The deal was part of a trio from the Middle East, none of which offered investors anything in the way of new issue concession.
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The first issuer representing the United Arab Emirates as a federal entity came to market this week. Emirates Development Bank raised $750m with a five year, surprising market participants with an aggressive pricing strategy.
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Emirates Development Bank, an agency guaranteed by the United Arab Emirates, hit screens for its debut five year Reg S benchmark on Wednesday, with initial price thoughts that looked promising to bankers away from the deal.
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