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Markaz: GCC Fixed Income markets see USD 75.5 billion in primary issuances during H1 2024 representing a 38% increase from the same period last year
In its Fixed Income Report, Markaz states that Primary debt issuances of Bonds and Sukuk in the Gulf Cooperation Council (“GCC”) Countries amounted to USD 75.5 billion during H1 2024 compared to USD 54.8 billion raised in H1 2023, representing a 38% increase. During H1 2024, there were 173 primary debt issuances including fixed and floating rate tranches compared to 130 issuances in H1 2023.
22/07/2024
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GCC IPOs raise USD 3.6 billion in H1 2024
Markaz released its research report titled “Initial Public Offerings (IPO) in the GCC markets”, stating that the region has raised total proceeds of USD 3.6 billion through 23 offerings during the first six months of 2024, marking a year-on-year decline in value by 32% compared to the first half of 2023, where issuers raised USD 5.3 billion through 21 offerings.
15/07/2024
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Commercial Bank of Kuwait completes the KWD 100 million subordinated tier 2 bonds program
In its capacity as the issuer, The Commercial Bank of Kuwait (Al-Tijari), and Markaz, the lead manager and subscription agent, announced in a joint statement the completion of the KWD 100 million subordinated Tier 2 capital bonds program after issuing the KWD 50 million second tranche bond with a tenure period of 10 years, callable after 5 years.
10/07/2024
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Markaz: Most GCC markets positive in June amid oil price gains
Markaz released its Monthly Market Review report for June 2024. Kuwait’s equity index declined for the month but remains positive on a year-to-date basis. GCC markets were mostly positive, supported by a rise in oil prices. U.S equities were positive for the month amid signs of easing inflation, even as U.S Fed kept rates unchanged during the month.
03/07/2024