Oman Oil Refineries and Petroleum Industries Company’s (Orpic) US$6.4bn project financing deal was one of the largest of its kind to close in 2016 and will allow the company to develop Oman’s first polyethylene plant, fuelling the development of the country’s petrochemicals market.
25 May 2016
The Jordanian Central Bank’s issued its debut sukuk this week. The high demand for the Islamic bond demonstrates the interest in Sharia compliant forms of financing, and will likely lead to further issuances from other Jordanian entities according to analysts.
24 May 2016
Qatar Telecom is planning to launch another benchmark sized bond following similar issuances in the past. The company’s fundamentals mean demand will not be lacking, and banks that have worked on past Qtel deals have re-emerged.
20 May 2016
The Emirate returned to the international capital markets with a highly sought after Eurobond, the first time the sub-sovereign has tapped the international capital markets after a long hiatus. The issuance marks the beginning of increased debt issuance activity in the Middle East.
20 May 2016
The real estate sector has been particularly active in Qatar, with two companies finalising deals on the international debt markets. The increase in debt issuance is not only reserved to this sector, many corporates and sovereigns in the Middle East have recently flooded the markets with debt.
19 May 2016
Mohieddine Kronfol, Chief Investment Officer, MENA Fixed Income and Global Sukuk, Franklin Templeton Investments talks about the dynamics of the GCC fixed income region, as well as Real estate becoming a potential hot spot in the market.
19 May 2016
Bank Muscat seized a window of opportunity in the markets and was able to issue a Eurobond that proved to be hugely popular amongst investors. The senior unsecured issuance is also the first of its kind from an Omani bank since 2013 and marked a return to the bond markets from GCC entities.
17 May 2016
With liquidity rapidly tightening and Basel III slowly coming into effect both formally and informally across the GCC, banks in the region are undergoing a significant transformation as they adjust to the capital adequacy, liquidity and risk management techniques outlined in the framework. But questions are being raised about whether the new capital rules will put the brakes on UAE banks’ rapid…
16 May 2016
The large increase in international debt issuances from the Middle East is the result of pressured finances and tightening domestic liquidity. Despite the number of issuances, it is unlikely that smaller borrowers will be crowded out of the markets.
12 May 2016
Both Islamic and conventional banks will face slower asset growth over the next two years due to a number of factors interrelate factors leading to thinning liquidity, with some of the region’s banks expected to hit the market with capital raising issuances in the run-up to Ramadan.
10 May 2016