Saudi Arabia’s grand ambitions to create new large-scale residential, industrial, “shoppertainment” and other mixed-use developments could be a boon for the country’s – indeed the region’s – real estate developers, investors and financiers. But the sector’s potential has never looked so mixed.
Todd Schubert, Managing Director, Fixed Income Research at Bank of Singapore sat down with us at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about GCC credits from both relative value and absolute perspectives, and assess the success of key fiscal reform efforts undertaken in the region.
Martin Egan, Vice Chairman of Global Markets at BNP Paribas sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the GCC debt capital markets pipeline, the delicate balance between oil price and regional volatility for investors, and potential replacements for LIBOR.
Andy Cairns, Senior Managing Director, Head of Global Corporate Finance at First Abu Dhabi Bank (FAB) sat down with Bonds & Loans at the Bonds, Loans & Sukuk Middle East 2018 conference in Dubai to talk about the newly created lender’s first year in operation and it’s market leading position across debt financing in MENA.
Neeraj Agrawal, Chief Financial Officer of Crescent Petroleum sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the funding team's key priorities this year, and dislocations between risk and the perception of risk in the GCC.
The Saudi real estate developer continues to be one of the most active corporates on the GCC Islamic finance markets, with its latest USD500mn sukuk pushing the total value of the company’s Shariah-compliant instruments listed on Nasdaq Dubai to USD1.85bn. Bonds & Loans speaks with Mika Toivola, Chief Financial Officer, Finance Group, Dar Al-Arkan, about the latest trends in the sector and the company’s funding plans.
The market for Additional Tier 1 and Tier 2 bonds issued out of the Middle East has blossomed since Abu Dhabi Islamic Bank broke ground on the first Basel III-compliant public Tier 1 capital issuance in 2012.
With demand for sukuk rising steadily in recent years, Bonds & Loans speaks with Dato’ Mohamed Rafique Merican, Group Head and Islamic Banking CEO at Maybank Islamic Berhad, about the risks and opportunities in the market, green sukuk, and the growing involvement of Asian investors in MENA debt markets.
Gulf sovereigns tapped the debt market on an unprecedented scale over the past couple of years as banking liquidity tightened and the hunt for yield pushed investors into new territory, setting the stage for more non-financial corporate bond issuance and a huge funding culture shift among the region’s enterprises. But there may be reason to believe what began to be seen as a funding revolution in the region could be stopped in its tracks.
US and EU monetary policy normalisation, the price of oil, and the pace of economic transformation are top of mind for many following the GCC, but the key risks – and opportunities – present in the region are both deeper and wider than is often appreciated.
- SWOT Analysis: Projects, ECA and Structured Finance in MENA
- Post-Arab Spring North Africa Could Dominate Key Sectors
- GCC Lending Transformation Continues
- Brown Brothers Harriman: Frontier Sovereign Rating Model for Q1 2018
- Standardisation and Harmonisation Will Propel the Sukuk Market Forward
15 Jun 2018