News

Qatars Ahli Bank Sells 500 Million of 5Year Senior Bonds

0

DUBAI Reuters Qatars Ahli Bank sold 500 million of fiveyear senior bonds at 125 basis points bps over midswaps, a document from one of the banks on the deal showed on Tuesday.

The spread was tightened from initial price guidance of around 150 basis points over midswaps after Ahli Bank received more than 1.35 billion in orders for the debt sale, the document showed.

Barclays, QNB Capital, JPMorgan Securities, Mizuho Securities and Standard Chartered arranged the deal.

The debt sale follows a 1 billion senior sukuk offering by Dubai Islamic Bank, the United Arab Emirates largest Islamic lender earlier this month.

There have been relatively few senior bond sales from banks in the region this year as liquidity levels are strong. Instead, there has been a steady stream of Additional Tier 1 bond issues as lenders look to boost their Tier 1 capital.

The hydrocarbonrich Gulf economies plunged into recession last year hit by an historic oil price collapse and impact of the COVID19 pandemic, but the region is expected to return to growth this year.

Dubais largest listed property developer Emaar also raised 500 million on Tuesday through a sale of 10year sukuk, or Islamic bonds.

Reporting by Yousef Saba Editing by Kirsten Donovan and Mark Potter

Source Reuters

 

Oil Edges Lower as COVID FlareUps Dent Demand Hopes

Previous article

JPY Up, Commodity Currencies Down as Virus Cases Surge Gain

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News