GCC Debt Report
Monday, November 5, 2012
Sunday, November 4, 2012
Abu Dhabi considering bond next year
Abu Dhabi's Department of Finance has said the UAE emirate is considering a dollar debt sale in 2013, Bloomberg has reported. "There might be some plans for next year, but this is not imminent," said Saeed Almazrouei, head of debt management at the emirate's finance department. We are "considering an issuance in dollars. There is no plan to sell dollar debt this year," he said. Abu Dhabi, holder of about 6% of the world's proven oil reserves, is home to one of the world's richest sovereign wealth funds and has Standard & Poor's third-highest investment grade.
Tuesday, October 2, 2012
Dubai's DEWA to raise USD1.23b next year: Tayer
MENAFN) Saeed Mohammed al-Tayer, CEO of Dubai Electricity and Water Authority (DEWA) unveiled plans to raise USD1.23 billion loan in 2013, Reuters reported.
Tayer said that DEWA will issue sukuks, resort to export credit agencies and syndication with the proceeds used primarily for debt repayment as well as investments.
DEWA, which was recently upgraded to investment-grade by ratings agency Moody's, completed its first ECA-backed financing, worth USD1 billion with a 13 years duration, in May 2009 with agencies from France, Germany and Italy.
DEWA, which provides electricity and water services to Dubai, has issued USD1.2 billion worth of bonds in October 2010.
Tayer said that DEWA will issue sukuks, resort to export credit agencies and syndication with the proceeds used primarily for debt repayment as well as investments.
DEWA, which was recently upgraded to investment-grade by ratings agency Moody's, completed its first ECA-backed financing, worth USD1 billion with a 13 years duration, in May 2009 with agencies from France, Germany and Italy.
DEWA, which provides electricity and water services to Dubai, has issued USD1.2 billion worth of bonds in October 2010.
Qatar Petroleum set 'to borrow heavily in 2014'
He also said Qatar Petroleum planned $25bn worth of downstream projects over the next five years.
http://www.arabianbusiness.com/qatar-petroleum-set-to-borrow-heavily-in-2014--473603.html
http://www.arabianbusiness.com/qatar-petroleum-set-to-borrow-heavily-in-2014--473603.html
Bahrain's GIB updates $4bn bond plan
International Bank, a Bahrain-headquartered lender, has published an updated prospectus for its $4bn euro medium term note (EMTN) programme on the London Stock Exchange.
http://www.arabianbusiness.com/bahrain-s-gib-updates-4bn-bond-plan-474221.html
http://www.arabianbusiness.com/bahrain-s-gib-updates-4bn-bond-plan-474221.html
QIB to issue dollar-denominated sukuk
Qatar Islamic Bank plans to issue a dollar-denominated sukuk under its recently approved $1.5bn sukuk issuance programme, Reuters has reported. Deutsche Bank, HSBC, Standard Chartered and QInvest are mandated for the sukuk. The lender last tapped global debt markets with a $750m sukuk in 2010.
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