United Arab Emirates
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Dubai is closing in on loans of as much as $3bn to fund its airport expansion, but bankers have said that pricing remains an area of negotiation. -
Chinese markets are back, with previous interventions by the regulators still paying off in the offshore RMB spot markets, while Dubai's exchange saw growing interest in RMB futures contracts in January 2017.
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Sukuk supply looks set to step up next week after Dubai Islamic Bank became the second borrower in two days to announce plans to meet investors ahead of a potential dollar deal in the format.
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Dubai’s sovereign wealth fund defied doubters on Wednesday with the successful launch of a $1bn 10 year sukuk at tight pricing levels.
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The Investment Corporation of Dubai (ICD) is on course to become the first borrower to issue in sukuk format this year after emerging with pricing for a 10 year dollar note.
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Naeem Shares & Bonds (NSB) brokerage has become the seventh member of Nasdaq Dubai’s equity futures platform.
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If “keeping one’s cards close to one’s chest” in negotiations while also acknowledging the need for market certainty seems like a peculiarly Brexit paradox, try managing the funding plans of a Gulf state as it tries to deal with a budget deficit.
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Dubai’s sovereign wealth fund looks set to reopen the dollar sukuk market next week following the announcement of a five day roadshow covering Asia, the Middle East and Europe.
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Dubai is close to picking banks for a $3bn loan to fund its airport expansion, according to loan officials, while flydubai is also in talks with banks. But discussion of a deal to back the emirate’s metro development plans are said to have “gone quiet” as the state seeks to avoid deal congestion.
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NMC Health, the London-listed company that claims to be the leading private sector healthcare operator in the United Arab Emirates, raised £255.4m on Wednesday in an intraday equity bookbuild.
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National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.
