Gulf bond flurry sets $102 billion record before U.S. election
Published 21 Oct,2020 via Bloomberg Markets - A burst of debt deals in the Gulf has pushed issuance to a record in the region as borrowers rush to shore up their oil-dependent budgets before the U.S. presidential vote.
Gulf Cooperation Council sovereigns and corporates have sold $102 billion in debt so far this year, already exceeding the highest full-year figure. Junk-rated Oman was in the market on Wednesday with a sale of seven and 12-year dollar notes, alongside offerings by Qatar Islamic Bank SAQ and the Investment Corporation of Dubai.
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Farah Elbahrawy