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Emirates NBD taps banks for kangaroo bond issuance
Initial price thoughts were set at 195 bps over asset swaps
Mubadala, Sharjah Islamic Bank, and ADCB tap debt markets
Initial price guidance was set at a spread of 95 bps over US Treasuries
THIS MORNING: Sharjah Islamic Bank sounds out investors for AT1 sukuk sale + Pay for your flights with stablecoin?
Plus: Fitch Ratings has revised down its forecast for growth in the GCC in 2025 to 3.7%
1Q earnings are in for Sharjah Islamic Bank, and Rak Ins., while EDB posts FY 2024 earnings
Rak Ins. saw a 223.4% uptick in its bottom line whilst Emirates Development Bank’s sunk by 14.8%
UAE’s largest 10 banks earned AED 82.8 bn in net income in 2024
Total interest income rose 6.7% y-o-y
THIS MORNING: Alpha Data likely to price IPO at top of range + Is Sidara’s acquisition of Wood Group back on the table?
Plus: A host of debt updates from Sharjah Islamic Bank and Tabreed
UAE banks ramp up debt issuances
Emirates NBD and Sharjah Islamic Bank are set to launch fresh issuances on Euronext Dublin and Nasdaq Dubai
Earnings season heats up
Emirates NBD, Al Seer Marine, Commercial Bank of Dubai, and more report 2024 earnings
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