GCC
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The Qatari lender offered about 30bp of concession at initial pricing -
A consortium of 12 banks were involved in providing the facility
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The kingdom revamped its green finance framework after the original was met with scepticism
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The kingdom is set to be the second GCC sovereign to issue a green bond
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The UAE district cooling company is a rare issuer, but a very well-known one
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Excluding the first weeks of the last two years, it was the busiest week since early 2023
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Wednesday’s Siemens Healthineers selldown was multiple times oversubscribed
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The spread over the sovereign could be as little as 10bp-15bp
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Limiting the trade to $500m meant the issuer could get inside fair value
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Damac boosted the size to $750m from earlier guidance of $600m
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The bank landed well inside fair value estimates, according to three observers
