United Arab Emirates
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The Fed's meeting and Ramadan are slowing Gulf issuance in the second half of March -
The real estate company is landing tight to its curve
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The company issued a rare Gulf hybrid in January
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Deals priced with little to no new issue premium
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Books were nearly $3bn for its first trade in five years
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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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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
