United Arab Emirates
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The Dubai Gold and Commodities Exchange (DGCX) is set to launch trading of offshore RMB (CNH) futures contracts on December 18. The exchange is looking to leverage the RMB’s new-found status as an SDR currency, it told GlobalRMB. -
Emirates Global Aluminium launched syndication on Tuesday for a $4.9bn seven year loan facility, comprising both conventional and Islamic financing, to refinance existing loans.
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The fate of three Middle East mandates this week spoke volumes about the state of that market, as issuers chase dwindling liquidity into the last weeks of 2016.
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National Bank of Oman has set initial price thoughts on a tier one perpetual note. Commercial Bank of Dubai’s new $400m five year senior deal, meanwhile, was down in the secondary market on Wednesday, but investors said the slide was down to wider market weakness.
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Commercial Bank of Dubai is settling for a smaller print and wider spread than originally indicated on its latest five year dollar bond, according to rival bankers and buyers.
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Commercial Bank of Dubai has released initial price thoughts for a five year dollar benchmark at mid-to low 200bp over mid-swaps.
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The Ranger went on the hunt for meditating bankers and found that each in the market has their own definition of inner peace.
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The Commercial Bank of Dubai has mandated six banks to arrange a Reg S dollar benchmark bond, and is starting the roadshow for the deal on Thursday.
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Majid Al Futtaim (MAF) priced its latest 10 year sukuk flat or even inside its secondary curve, according to bankers on and away from the deal.
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Mitsubishi UFJ Financial Group’s banking arm, the Bank of Tokyo-Mitsubishi UFJ (BTMU) has launched a new Islamic Finance business to be run from its Dubai branch.
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Majid Al Futtaim (MAF) on Tuesday opened books on only the second Middle East corporate sukuk of the year, as Islamic bond issuance starts to lag behind the 2014 run rate.
