Thursday, May 26, 2011
Dubai After going through a sluggish first quarter, the Gulf bond market is witnessing a flurry of activity with more regional entities tapping the international debt capital markets.
After two successful issues from Sharjah Islamic Bank and Islamic Development Bank (IDB) with significant investor interest, more issuers including Saudi Electricity and Qatar Islamic Bank are lining up bond issues.
While Emirates airline kicked off a roadshow for its upcoming bond issue in Hong Kong on Monday, Abu Dhabi Government owned investment company Aabar has issued €1.25 billion (Dh6.45 billion) in bonds.
HSBC Middle East said on Tuesday that it plans to sell dollar-denominated Islamic bonds after meeting investors in Asia, Europe and the Middle East. The bank has mandated HSBC as the sole lead manager and bookrunner for the benchmark-sized bond.
Head to the market
By Babu Das Augustine?Deputy Business Editor
Gulf News 2011. All rights reserved.
