Middle East Bonds
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Demand was nearly £4bn for the sovereign wealth fund's first ever debut in a new currency -
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The Saudi wealth fund and sovereign have issued tens of billions of dollar bonds in the last two years
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Books were two times covered for three Gulf banks bonds this week
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The prices on offer mean little pushback from investors when Saudi Arabia issues more than planned
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Sub-investment grade issuance from Gulf banks is very rare
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The Kingdom is the emerging markets’ biggest sovereign issuer of the year by far
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Capital trades are drawing higher demand than senior notes, said one banker
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Bank’s first issue for nearly four years offers 5bp NIP on a $500m note
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BBK, NBK and GIB mandate benchmark dollar deals
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The Kingdom was thought to have completed its international debt borrowing for 2024 in January
