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Who are the largest international bond issuers in Middle East and Africa YTD?


We have looked at figures in international bond issuance for the Emerging Markets for the first three quarters of 2018. This report focuses on the Middle Eastern and African Emerging Markets and identifies the largest trends and the most interesting dynamics in 2018 so far. We also attempt a year-on-year comparison for a more thorough analysis.

Saudi Arabia and Qatar drive the Middle East market

Borrowers in the Middle East region have raised 22% more in international bonds than what they did in the first three quarters of 2017. The increased activity was fuelled by the two jumbo deals completed by Saudi Arabia and Qatar. The Saudi, who has already established itself as one of the largest debt issuers since 2016, sold an USD11bn three-tranche deal in its fourth international bond sale (more details here). The deal came just one day earlier than Qatar’s bond and surprised the market.

This did not stopped Qatar from issuing their bond, the first since the boycott from Saudi, UAE, Bahrain and Egypt. The issuance was of big success with orderbooks being estimated at around USD53bn. As a result, it secured tight funding for its USD12bn, three-tranche deal (the largest SSA deal YTD) (read more here).

African SSAs return to the market

In the Africa region, SSAs led again the way. Of the total USD24bn in international bonds, USD20bn were completed by Sovereigns. Kenya returned in the bond market after 2014 with an USD2bn Eurobond (read more here), while Ghana printed a USD2bn bond, the first after 2016. Other traditional players in the market, such as Egypt and South Africa kept the same levels of issuance to last year. The largest amount of the issuance was completed in the USD, showing these countries’ dependence on the American currency.

Who is the Best Emerging Markets Bond Dealer?

During October and November, CMDportal will survey market participants for their opinion on who is the Best Dealer in the Emerging Markets. Get involved by submitting your credentials.

Find who won last year's Emerging Market dealer Award in the CMDportal Awards 2018 on page 22: 2018 CMD Awards.

Who leads the Middle Eastern and African Dealer League Table?

Eastern European Market Dealer                                      01/01/18 - 30/09/18

Rank

Dealer

US$m

Market Share

1

Standard Chartered Bank

15,265

74

2

Citigroup Global Markets

12,029

54

3

JP Morgan

9,032

48

4

Deutsche Bank

8,613

22

5

HSBC

7,979

55

© CMD. Self-led exc. Bonds, Notes and MTNs only.

 

Where is this data coming from?

CMDportal is the global bond and money market data utility connecting issuers, dealers and investors. The service aggregates data from a wide range of sources, including issuers, dealers and fund investors recording both who issued, who traded and who bought the instruments.

Can I produce a Debt Capital Market statistical query like this?

Yes you can. CMDportal provides a wide range of tools to analyse bond and money markets. Data Sheet results can be downloaded as an XLS file.
 



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