United Arab Emirates
-
Dubai's biggest bank, Emirates NBD, has completed its acquisition of Turkey's DenizBank from Sberbank as the binge of bank mergers in the Gulf continues. -
GEMS Education came to the market on Tuesday with a pair of seven year senior secured bonds. The issues form part of a larger debt package being raised to support private equity firm CVC Capital Partners purchase a minority stake in the Dubai-headquartered education provider.
-
An expected return of Brexit volatility means that there are likely to be fewer UK firms doing IPOs in the fourth quarter of the year, but London will continue to host high profile international listings to make up the shortfall.
-
The Emirates Strategic Investment Corp made its bond market debut on Tuesday, launching a $600m five year sukuk into a six times subscribed order book.
-
Dubai-headquartered international education provider GEMS Education is seeking a $1.85bn debt package to support CVC Capital Partners taking a minority stake in the company.
-
The Middle East is regaining its position as the core source of emerging markets issuance after a brief lull in June. Emirates Strategic Investments Company (ESIC) has announced a roadshow for its first dollar sukuk.
-
DP World on Thursday launched a new $1bn 10 year sukuk and $300m tap of its $1bn 5.625% September 2048s, both with negative new issue premiums.
-
DP World has updated price guidance for its new 10 year benchmark sukuk and $200m tap of its 2048s, with order books already a healthy size for both deals.
-
DP World is embarking on a roadshow to market a new 10 year benchmark Reg S dollar sukuk. It is also considering long dated Reg S-only dollar funding.
-
First Abu Dhabi Bank printed $900m of senior floating rate notes on Thursday, using the format for the second time this year. Although interest rates are expected to fall this year, investors seemed happy to commit funds to the product.
-
First Abu Dhabi Bank has courted Taiwanese investors yet again, this time raising $900m from a Formosa bond.
-
