April 28, 2023
April 28, 2023JH Explorer: Exceeding expectations in the Middle East
Market Archive – GCMA
- Fitch Affirms Bahrain’s Beyon at ‘B+’; Outlook Stable 01/06/2023Fitch Ratings has affirmed Bahrain Telecommunications Company’s (Beyon; formerly Batelco) Long-Term Issuer Default Rating (IDR) at ‘B+’. The Outlook is Stable. A full list of rating actions is provided below.
- Saudi Real Estate Refinance Co. issues $933m in sukuk to spur liquidity in realty market 01/06/2023The Kingdom’s housing market will get a fresh stream of liquidity, with Saudi Real Estate Refinance Co. announcing SR3.5 billion ($933 million) in sukuk issuances.
- Egypt’s debt likely to become ‘Euroclearable’ by end-2023 01/06/2023Egyptian Ministry of Finance is aiming to settle its cross-border link with Belgium-based clearinghouse Euroclear before the end of 2023
- First Abu Dhabi Bank set to raise $500 million with green bonds 01/06/2023First Abu Dhabi Bank is expected to raise $500 million from an offering of five-year green bonds, a bank document showed on Tuesday.
- Adnoc L&S share price surges on Abu Dhabi debut 01/06/2023Shares of Adnoc Logistics & Services surged as much as 58 per cent as the company made its debut on the Abu Dhabi Securities Exchange on Thursday.
- 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...
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.