Middle East Bonds
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Dubai-based hospitality group used recent real estate deals as comps -
Only one other UAE bank has an outstanding tier two bond
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Any new social bond from Rakbank would be a first from the region
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Views vary on the exact new issue premium the emirate paid
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EM dedicated investors will only buy if they have to, but GCC funds are flocking to UAE
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Investors have not had a chance to buy a new bond or sukuk from Oman for more than two years
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The note traded higher on secondary markets on Wednesday
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Lack of bonds and sukuk from Oman should create high demand, said one observer
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Gulf investors have had very little sovereign sukuk to buy this year
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Demand was much better than similar deal from two months ago
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Low Gulf corporate bond issuance volumes prompt big book and small NIP for port operator
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Asian buyers are limiting their involvement in Middle East bonds for all but the very best issuers
