25.03.2013 - Gulf bonds' order books 'not as solid as they seem'
Bond and sukuk issues from the Gulf Arab region in the past few weeks have drawn huge investor order books but then performed poorly in the secondary market - a sign that some of the orders are not as solid as they appear. In order to ensure they obtain part of a new issue, institutional investors are bidding for larger amounts than they actually want, because they assume their bids will be cut when the issuer decides on allocations, traders and analysts say...............................................Full Article: Source
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