April 28, 2023
April 28, 2023JH Explorer: Exceeding expectations in the Middle East
Market Archive – GCMA
- Dubai’s government debt burden to call this year amid robust economic momentum, S&P says 23/05/2023Rating agency expects Dubai economy to expand by 3 per cent this year and grow at pace over two to three years
- UAE’s Majid Al Futtaim picks banks for 10-yr USD green sukuk 23/05/2023Proceeds from the sukuk sale will go towards funding or refinancing eligible green projects under the company’s green finance framework of 2019
- Qatar Investment Authority commits up to $1bln to boost local equity market 23/05/2023The program will also help improve price discovery and diversify capital markets
- Adnoc L&S IPO: Company increases number of shares on offer for retail investors 23/05/2023Retail portion of initial public offering has been raised to more than 1.4 billion shares from 1.1 billion, equal to 19% of total shares on offer
- Fitch Upgrades DP World to ‘BBB+’, Outlook Stable 18/05/2023Fitch Ratings has upgraded DP World Limited’s (DPW) Long-Term Issuer Default Rating (IDR) to ‘BBB+’ from ‘BBB-‘. The Outlook is Stable. The Short-Term IDR has been upgraded to ‘F2’ from...
- Saudi Arabia sells $6 bln in two-tranche Islamic bond 18/05/2023Saudi Arabia raised $6 billion on Monday from the sale of Islamic bonds, or sukuk, selling $3 billion each in two tranches of six years and 10-years, a document from...
- UAE’s Aldar to issue 10-year $500mln green sukuk 18/05/2023Aldar Investment Properties, a unit of Abu Dhabi’s largest developer Aldar Properties , launched a $500 million 10-year debut green Islamic bond, or sukuk, on Wednesday, according to a bank...
- Fitch Upgrades SABIC to ‘A+’ 25/04/2023The upgrade follows the upgrade of SABIC’s majority parent, Saudi Arabian Oil Company (Saudi Aramco; A+/Stable), which in turn followed the upgrade of the Saudi Arabian sovereign rating to ‘A+’/Stable
- S&P revises Egypt’s outlook to negative on currency depreciation and rising inflation 25/04/2023Rising external financing needs could pose downside risks to the Arab world’s third-largest economy
- Taqa raises $1.5bn from dual tranche bond to fund expansion 18/04/2023Deal includes company’s debut $1bn green bond issued under its green finance framework
GCMA makes available data on significant cross border and local issuances from the GCC region. More complete information is available to our members.
Monetary Authorities and Securities Market Regulators
Central banks and securities market authorities ensure the soundness and functioning of financial systems and the development of the GCC capital market.
GCC governments support development of the region’s capital market by issuing bonds and sukuk both cross border and domestically.
GCMA highlights significant laws, regulations and rules relevant to offering and listing fixed income instruments.