GCC
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The Middle East's IPO market has suffered its first major flop this year -
The Dubai business parks developer made its stock market debut on Tuesday
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Selling bonds internationally would cost more than interbank financing
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The real estate company continued a spike in primary market activity from Gulf issuers
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Mashreqbank priced at 8.5% after starting with guidance in the mid to low 8% area
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Year-to-date bond issuance volumes from GCC are down more than 75%
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Local investors helped push the order book to $1.4bn
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The insurer's own curve will not help bankers price a new bond
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Sovereign and property developer show deals can be done
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Middle eastern government includes Formosa tranche in second international outing
