Market participants with direct knowledge of the deal said that Bahrain would be able to issue its first 30-year debt by taking advantage of good sentiment towards the Gulf in general.
The group, famous for its beheadings, provides electricity and water, pays salaries, controls traffic, and runs nearly everything from bakeries to courts.
Emaar could consider IPOs for its hospitality and international units in the future, writes Sachin Mohindra, SVP – Portfolio Manager at Invest AD Asset Management.
The public declaration is a motivational approach unique to the UAE, which invokes honour, the backbone quality of the region, writes the author of ’10 Tips For Leadership In The Middle East’.
Gulf bond issues, expected to start next month, are likely to include a sovereign sukuk from Sharjah and a sovereign U.S. dollar conventional bond from Bahrain.
The Kingdom’s preferred Sunni allies have lost out to militants, and Riyadh faces its nightmare scenario of watching two key Arab states become proxies for its rival Tehran or perpetual failed states.