Middle East Bonds
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The Islamic Development Bank (IsDB) has mandated for a sustainability sukuk, half a year after making its socially responsible investment debut with a green bond. It will use the proceeds to support Covid-19 relief efforts. -
Simon Eedle has been named senior country manager for the UK at Natixis’s corporate and investment bank. Barbara Riccardi steps into his old position as regional head for the Middle East.
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First Abu Dhabi Bank (FAB) has decided to call an additional tier one deal, the coupon of which was due to drop in its favour. The move goes against the grain of the borrower's Gulf peers.
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Nick Darrant, JP Morgan's head of CEEMEA debt capital markets syndicate, is leaving the bank after five years to join Citigroup as co-head of EMEA syndicate.
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The Emirate of Abu Dhabi took full advantage of a ready and willing investor base on Tuesday looking for high quality emerging markets to buy in the coronavirus pandemic, driving down pricing on a triple tranche tap to levels that leads saw as 5bp inside the issuer's own curve.
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The Emirate of Abu Dhabi made a swift return to bond markets on Tuesday just six weeks after it printed a $7bn triple tranche trade, tapping that same deal.
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Mamoura Diversified Global Holdings took full advantage of fast-building momentum behind Gulf issuers on Tuesday, when it printed a $4bn triple tranche trade that won $23bn of orders.
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The Kingdom of Bahrain moved emerging markets’ bond recovery beyond top tier issuers on Thursday as it printed a $2bn dual tranche dollar trade that raked in $11bn of demand.
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Lebanon, already in the throes of a sovereign debt crisis before the coronavirus pamdemic, made its request for International Monetary Fund assistance last week. Although foreign investors welcomed it, the plan has already run into opposition at home, setting up an arduous path of negotiation.
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