GCC
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The sovereign wealth fund is building on the momentum of Saudi success -
The bank has had a stellar start to bond and sukuk sales in 2025
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Issuance will quieten in the next two weeks after a busy start to 2025
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Making fair value estimates for the AT1 deal was tricky
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Shariah-compliant credit facility expected to play 'pivotal role' for the borrower
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Combined books for the two trades came to nearly $8bn
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AT1s and senior deals from Saudi and Bahrain are expected early in the week
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Hybrid issuance had all but disappeared in the last few years from emerging markets
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The bond has some novel features, said one investor
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The bank will take $600m on a book twice that size
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Books were over $2.1bn for a $1bn trade
