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3 weeks ago | 
zawya.com | Sudip Roy |Paul Kilby |Timothy Sifert
Saudi Aramco returned to the conventional US dollar market on Tuesday with a US$5bn three-part deal, with the 30-year tranche accounting for nearly half the amount raised in spite of further swings at the long end of the Treasury curve. It was the latest sign that investors are keen to buy 30-year debt or longer from blue-chip corporates, with recently placed long-dated bonds from Alphabet, Siemens and Snam also proving popular.
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4 weeks ago | 
ifre.com | Sudip Roy |Paul Kilby |Timothy Sifert
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1 month ago | 
zawya.com | Sudip Roy
Alinma Bank became the fourth Saudi Arabian bank in less than a month to issue in the US dollar AT1 market, with its deal coming in line with where the two most recent ones priced. Alinma, which is a publicly listed Islamic bank, though wealth fund Public Investment Fund also owns a 10% share, showed liquidity hasn't dried up despite the supply glut in recent weeks.
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1 month ago | 
zawya.com | Sudip Roy
Turkey raised US$2bn in its second bond outing of the year on Wednesday, which was a similar deal to its first transaction three months ago. The sovereign had long been expected to return to the primary arena, given it has about US$11bn to raise in international markets this year. But it was delayed for various reasons – the arrest of the Istanbul mayor, then the US tariffs and even the regional development bank annual meetings.
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1 month ago | 
ifre.com | Sudip Roy
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1 month ago | 
zawya.com | Sudip Roy
A trio of Gulf banks hit the US dollar AT1 sukuk market last week, taking advantage of the rebound in risk appetite following an easing in tensions in the US-China trade war. Two of the issuers were new to the AT1 market, Saudi Awwal Bank and Bank Albilad, while the other was a relatively more familiar name to investors, Kuwait's Warba Bank. The three deals took the number of GCC banks to issue AT1 in the US market this year to five.
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1 month ago | 
zawya.com | Sudip Roy
The head of debt capital markets for Central and Eastern Europe, Middle East and Africa at Citigroup has left the bank, according to sources, as has a senior loans banker whose business also included the region. Iman Abdel Khalek, head of debt capital markets for CEEMEA, based in Dubai, and Zain Zaidi, head of UK, Europe and MEA loans products and execution, also based in Dubai, have left the bank. Abdel Khalek is joining SMBC, according to the sources, taking on a coverage role.
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2 months ago | 
ifre.com | Sudip Roy
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2 months ago | 
zawya.com | Sudip Roy
The US dollar sukuk market was treated to a new issuer on Wednesday, while another debut name announced its intention to print in the coming days. Ajman Bank, the first Islamic bank incorporated in the Emirate of Ajman, was the issuer to do a deal. Omniyat, a real estate developer in UAE focusing on the ultra-luxury real estate segment, is the one still to come. The sukuk market has outperformed throughout the past month's volatility thanks to regional liquidity.
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2 months ago | 
zawya.com | Sudip Roy
Mashreqbank accelerated its US$500m no-grow five-year sukuk, printing the deal on Tuesday a day ahead of when it was originally pencilled in. It was the first issuance from the CEEMEA region since US president Donald Trump's tariffs announcement on April 2. Mashreqbank (A3/A/A) was a good candidate to reopen the market given its strong ratings and its standing in the UAE financial sector.
