18.02.2013 - Middle East investors grow wary of bond sales
Middle Eastern fixed income, the darling of regional investors during the past year, is now putting them in a state of anxiety. The jury is out on whether demand for the region's debt, which brought a record year for bond and sukuk sales in 2012, is in danger of running out of steam amid a pullback from recent highs. Dubai's latest 10-year sukuk is trading at a discount of 12 basis points to its par value, after a sale that analysts said was "aggressively" priced. Upon issuing, the emirate's debt returned a coupon of 3.85 per cent, lower than equivalent dated debts sold by the Italian government...............................................Full Article: Source
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