Saudi Arabia
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Issuers from the Gulf have taken over emerging markets bonds with Saudi Arabia on track to print its debut sukuk on Tuesday. Multiple tranche deals are the flavour of the week with Romania, Mubadala and KazmunayGas all offering multi-faceted deals. -
Saudi Arabia was offering up a 20bp-25bp NIP over its conventional bonds at price talk for its debut sukuk on Tuesday, as banker’s debated where the deal will land relative to it’s conventional bond debut.
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Saudi Arabia will begin meeting investors for its debut international sukuk on Sunday. The deal is a long time coming, according to those keen to see the development of the Islamic finance market.
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Saudi high yield issuer Dar Al-Arkan nipped in ahead of its sovereign to raise a $500m sukuk, strong scarcity value drove demand and enabled the issuer to increase the size of the trade from the planned $300m.
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Saudi Arabia will begin meeting investors for its debut international sukuk on Sunday. The deal is a long time coming according to those keen to see the development of the Islamic finance market.
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Saudi real estate company Dar Al-Arkan and Dubai property developer Damac look set to add much needed supply to the sukuk market and are lining up trades in the belly of the curve.
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The CEO of HKEX may be keen for Saudi Aramco to list in Hong Kong but as our columnist Clawback explains, there are more reasons for the Saudi oil giant to bypass the city’s exchange than to pick it for a listing.
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Hong Kong’s stock exchange and Saudi Arabian energy company Saudi Aramco are potentially a match made in heaven, according to the bourse's chief executive officer Charles Li.
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Saudi Aramco is set to appoint up to five banks to advise it on its potential initial public offering after a six month pitching process reached its climax this week. Contrary to earlier reports, Moelis & Co will not be the sole adviser, but will be joined by another independent, two bulge bracket banks and a local firm, writes David Rothnie.
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Saudi Basic Industries Corp (Sabic) has reopened discussions with banks for a loan of as much as $2bn, having put funding plans on hold last year.
