Bond bankers are scrambling to secure business from beleaguered Gulf sovereigns, which are expected to engage in record breaking fundraising next year to cover widening fiscal deficits.
Countries in the GCC are tipped to need more
Two issues of US dollar Islamic bonds in the Gulf this week - the first in five months - suggested pricing power in the region's bond market is shifting toward investors as banking sector liquidity dries up.
Egypt will return to the international bond market in the first half of 2016, the country's finance minister said on Monday, taking advantage of its return to economic and political stability in the wake of the Arab Spring uprising of 2011.
Bond investors' confidence in Dubai is surviving two tests at once, with bond prices staying strong even as the stock market tumbles and concern mounts over volatility in the real estate sector.
Wild swings in the Dubai stock
When Abu Dhabi's biggest bank, NBAD, issued a $750 million bond in August, strong investor demand underlined how well most Gulf banks are riding out the global financial crisis.
The issue also sent another signal: that the reg
HSBC Holdings, the top arranger of debt issues in the Middle East so far this year, said it expects a flurry of bond offerings in the second half, including from prime sovereign-linked Abu Dhabi names yet to tap the market in 2012
Commercial Bank of Qatar has picked banks to arrange investor meetings in Asia, the Middle East and Europe ahead of a possible dollar-denominated bond issue, lead arrangers said.
The lender, Qatar’s third-lar
Dubai's state-owned utility kicked off a roadshow on Tuesday to raise up to $3 billion in a litmus test of how Dubai entities will fare in debt markets after the Gulf Arab emirate's refinancing crisis.
Dubai Electricity and Water A
Egypt plans a number of measures in 2010 to spur its bond trading, including reactivating its repurchase agreement (repo) market and introducing shelf registration and bond lending, an official said.
The government, which has expande
The Saudi stock market regulator has approved setting up a market for debt securities, it said on Saturday, responding to a long-standing demand by some firms to diversify sources of financing amid tight credit conditions.
The Capital Mark