Primary bond issues in the MENA region are expected to exceed USD 30bn in 2011 on long-term debts for large infrastructure projects and refinancing of maturing short-term debts, Gulf News reported, quoting Andrew Dell, HSBC's head of debt capital markets for MENA. The volume of bond issues this year stands at USD 30bn. In 2010, Qatar was the leader in terms of bond issues with an aggregate of USD 8.5bn, followed by Saudi Arabia with USD 6.6bn and Dubai with USD 4.3bn, according to HSBC figures. |
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Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more
The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more