Middle East
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Deal got done with local institutions and finished 2.1 times oversubscribed. International and retail accounts were irked by E&P’s share price tumble -
Internationally marketed IPO pays off as ‘global’ investors come in
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The country is the only purely sub-investment grade issuer left in the GCC
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OQ’s Base Industries IPO will be a local deal as slump in shares of E&P sister company was a “wake-up call” for international investors
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Sovereign's $2bn outing in February was a huge success
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Expectations of Fed rate cuts have turbocharged issuance from the region
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Turkish banks are bolstering capital stacks ahead of accounting changes next year
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Turkish bank is tendering the 2027 bond it didn't call in 2022
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Dubai bank 'impresses with ESG narrative', but opinion divided on instrument's effect to pricing
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Sustainable sukuk has strong optics, but some have concerns about secondary performance
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◆ Austrian bank completes strategic capital refi ◆ Investor response show 'no consensus' on pricing for 'very esoteric name' ◆ New deal has lower funding cost than March's pulled attempt ◆ Other debut issuers show deeply subordinated capital remains desirable
