United Arab Emirates
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Bank of Sharjah emerged on Tuesday with pricing for its delayed five year senior dollar market return. -
Dubai-based property developer Majid Al Futtaim (MAF) emerged with pricing for a new subordinated perpetual bond on Tuesday morning after just one full day of a planned two day roadshow.
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The UAE’s Majid Al Futtaim will begin investor meetings in Asia next week for a subordinated perpetual bond, the first from the Middle East this year.
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Shares in Arabtec Holding, the largest listed construction company in the United Arab Emirates, surged 15% on Wednesday after it said regulators had approved its plans to raise Dh1.5bn ($408m) through a rights issue to strengthen its balance sheet after a second annual loss in 2016.
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A syndicated loan of as much as $3bn for Dubai Airports looks set to be wrapped up in just under a month’s time, according to a banker close to the deal.
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Bank of Sharjah has been forced to delay its planned senior bond sale after the Central Bank of the UAE failed to sign off the bank’s financials.
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Shares in Arabtec Holding, the Dubai-based construction company, slumped 9.8% on Monday morning after it said it would complete a Dh1.5bn ($408m) rights issue after its second consecutive annual loss.
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Dubai Islamic Bank printed the largest ever senior financial sukuk on Tuesday, an accomplishment that bodes well for the busy pipeline of Middle Eastern bonds.
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Dubai Islamic Bank printed the largest ever senior financial sukuk on Tuesday proving the market to be in rude health, good news for the busy pipeline of Middle Eastern bonds and Kipco, which mandated on Wednesday.
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Details of the new look National Bank of Abu Dhabi emerged this week including plans to divide the merged bank’s corporate and investment banking division into six reporting lines.
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Dubai Islamic Bank had taken orders of over $2.2bn by lunchtime on Tuesdayto launch the first financial sukuk from the Middle East of 2017.
