| From Business24-7.ae: Up until the PCFC/DP World $3.5 billion (Dh12.85bn) convertible bond transaction done in early 2006, the GCC regional bond market was dominated by mid sized (US$100 million-300m) plain vanilla senior bonds with relatively short maturities (five years and in) issued mainly by the region's banks.
Since that PCFC issue (which was subsequently redeemed by the DP World IPO) the regional bond market has mushroomed not only in terms of size but also in terms of types of issuers (banks, property company's, utilities etc.), length of maturities, structure of bonds (senior, subordinated, etc.) and the currency of the offering.....Full Article: Source
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