United Arab Emirates
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Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside of the oil and gas sectors, has kicked off the year with a $6.5bn term loan facility, as market conditions remain “borrower friendly”. -
The Middle East and North Africa region will provide a large chunk of emerging market bond supply in 2019, investors said this week. The region provides excellent value, in spite of fluctuations in the oil price.
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Dubai Investments Park Development Company has postponed its planned dollar five year sukuk.
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Dubai Investments Park is hitting the road to market a five year fixed rate senior unsecured Reg S only sukuk.
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First Abu Dhabi Bank (FAB) printed its $850m five year sukuk on Tuesday, becoming the first bank to sell an international sukuk intraday.
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First Abu Dhabi Bank printed its $850m five year sukuk on Tuesday, increasing the deal size from an expected $750m and paving the way for an additional tier one trade from Dubai Islamic Bank on Wednesday. The deals are the first bank trades from the Middle East this year.
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Dubai Islamic Bank finishes the roadshow for its additional tier one bond on Wednesday. The market is eagerly awaiting pricing details and though no call has yet been confirmed, bankers and investors are expecting the bank to redeem its outstanding tier one in March.
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First Abu Dhabi Bank’s five year sukuk benchmark, which has raised a book of $2bn so far, is prompting renewed discussion over fair representation of joint lead manager interest in Middle East bonds.
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Goldman Sachs International conducted business with Lars Windhorst, the colourful German financier, despite warnings from its compliance department that he was a high risk counterparty.
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