News

Corporate and infrastructure bond boom in Gulf

Dubai_constructionThe value of corporate and infrastructure bonds issued in the Gulf countries this year has doubled compared with 2016. In the year until November 7, there was $17 billion of corporate and infrastructure bond issuance, including conventional bonds and sukuk, according to the data from S&P Global Ratings. “For Gulf Cooperation Council corporate and infrastructure capital market issuance, 2017 is shaping to be a bumper year,” said Tommy Trask, primary credit analyst. Trask said the boom was caused by issuers scrambling to lock in funding at attractive interest rates. Political instability in the region may also have encouraged issuers to secure funding this year rather than to wait. “Volumes are already more than double those of last year – with almost two months still to go,” said Trask. “With government deficits remaining substantial, we expect this trend to continue into 2018.” ©2017 funds global mena

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