Regional asset managers and investors are cherry-picking shares of select energy and technology sector companies
bond market
Latest in bond market
bond issuance
Sustainable bond issuance slows down in the region despite bond market uptick
S&P Global Ratings report says bond issuance down 18%; COP28’s halo effect and rising interest rates cited as reasons
bond market
India inclusion in JPMorgan Bond Index starts today, $25-30bn inflows expected
The South Asian country becomes the 25th market to be included in the index since its launch in June 2005
Abu Dhabi
Abu Dhabi-based Lunate Capital announces launch of first-ever UAE Bond ETF listing on ADX
The Chimera JP Morgan ETF will be listed on the Abu Dhabi Securities Exchange (ADX) on March 26
Bond
Reliance to hit market with $2.4 bn bond issue
The 10-year bonds, rated AAA with a stable outlook, will be auctioned on Thursday
bond issuance
Emirates NBD to price its AED1bn dirham-denominated bond 83 bps over UAE T-bonds
ENBD is the first bank to issue a dirham-denominated bond after UAE finance ministry created a medium-term yield curve
bond market
Time to turn to the GCC bond market
GCC bonds set to benefit as fixed income sets off on the road to recovery
Belt and Road Initiative
Bank of China’s Dubai branch lists $300mn bond in Nasdaq Dubai
The bond, which is rated ‘A’ by Fitch, offers a yield of 4.84%; the total value of debt instruments listed on Nasdaq Dubai reaches $111.6bn
bond issuance
Saudi Arabia announces partial repurchase of $1.3 billion outstanding dollar-denominated bonds
These bonds are maturing in 2023, 2025 and 2026
bond issuance
UAE central bank’s fifth round T-bond issue rakes up AED7.57 billion bids
The strong demand was seen across both tranches, with a final allocation of AED750 million for the 2-year tranche and AED750 million for the 3-year tranche
bond issuance
Latest UAE central bank T-Bond issue oversubscribed close to 6 times, gets bids worth $2.3 billion
The overwhelming response to the bond issue is attributed to the attractive market driven prices – a spread of 8 basis points (bps) over US Treasuries for two years, and a spread of 20 bps over US Treasuries for five years
Auction
UAE receives bids worth $2 billion in third auction of Treasury bonds
The auction, which is part of the country’s T-Bond programme, witnessed Treasury bonds oversubscribed five times
Abu Dhabi
Abu Dhabi’s TAQA lists nine bonds worth $8.25 billion on ADX
The bonds range in size from $500 million to $1.5 billion, with issuance tenors spread between seven years and 30 years
bond issuance
UAE Ministry of Finance receives bids worth AED 9.7 billion in second auction of Treasury bonds
The auction size of AED 1.5 billion was distributed over two tranches, including a two-year tranche of AED 750 million and a three-year tranche of AED 750 million
bond issuance
UAE auctions $2.5 billion in federal treasury bonds as investor confidence grows
The strong demand for the dirham denominated federal treasury bonds at the first auction reflects investor confidence in the UAE’s economic and financial policies and cements the UAE’s position as an attractive hub for investment, the UAE Deputy Prime Minister said
Bal Krishen
UAE looks to build local banking and financial sector with sale of dirham-denominated Treasury bonds
The UAE Ministry of Finance has assembled six local and international banks to participate in the primary market auction, including Abu Dhabi Commercial Bank (ADCB), Emirates NBD, First Abu Dhabi Bank (FAB), and Standard Chartered
AT1 bond
Capital Bank lists $100m AT1 bond on Nasdaq Dubai market
The bond is the first issuance of its kind for a Jordanian bank on the region’s international financial exchange