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The AT1 party keeps growing — and now it’s the smaller names crashing it
Ajman Bank priced its debut AT1 at 6.50% overnight, while Commercial Bank of Dubai just mandated its own benchmark
ENBD raises USD 1.5 bn in private issuance
The move comes as UAE debt markets have been seeing more activity after a war-induced lull
THIS MORNING: FAB sees USD 1.4 bn in orders for latest Tier 2 issuance + port closures and pricing pressures are delaying Dubai Creek Tower
Plus: Dubai placed first for the fifth year in a row for FDI projects
THIS MORNING: DP World eyes a return to the US + Dubai Islamic Bank taps debt markets again
Plus: Int’l neobank Revolut has cleared the last formal hurdle before a UAE customer launch
Debt activity picked up in the Gulf in May, and it could be the same this month before a summer lull
A summer lull and FOMC will likely bring muted market activity in the next few months
DIB prices USD 1 bn AT1 sukuk after one-day virtual roadshow
DIB credits a one-day virtual roadshow for helping it lock in demand and keep execution risk low
THIS MORNING: DIB tests appetite for Gulf debt + Middle Eastern airlines could be staring down a collective loss for this year
Plus: ADX and DFM-listed firms brought in USD 17.4 bn in 1Q
MGX invests in Anthropic’s latest funding round + the latest T-sukuk was oversubscribed, again
MGX first invested in the firm back in February
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