GCC sovereign issuance is likely to surpass 2017 levels this year after seeing a strong first half of the year, according to Fisch Asset Management.
The Zurich-based asset manager made the forecast after $30 billion was issued in the first six months of the year.
Fisch said it believes that Kuwait is likely to contribute meaningfully to the remaining issuance total in 2018.
In addition to Kuwait, Saudi Arabia may also consider returning to the market, following a jumbo-sized transaction during H1.
Fisch said it thinks that Saudi Arabia may tap the markets again in the second half, grabbing the opportunity, while Qatar is less likely to return.
On that basis, GCC sovereign issuance for the remainder of the year is likely to be dominated by Kuwait, Saudi Arabia and possibly the UAE.
Philipp Good, CEO at Fisch Asset Management, said: “This robust performance by the GCC primary markets stands out as particularly strong when compared to the broader emerging market trend, where aggregate issuance is lagging significantly behind 2017 levels.”
more recommended stories
Saad and Abdullah, only two Bin Laden brothers, are on the new nine-member board of Binladin construction company
Saad and Abdullah, only two Bin.
Chairman and chief executive of Emirates airline’s Sheikh Ahmed says “to reduce costs in the long-term that investments in technology would help it.”
To help it try and reduce.
Dubai’s Jumeirah plans renovate of lead London hotel
Dubai-put together Jumeirah Group with respect.
UK-based Choudhrie family set to focus on the Saudi, UAE lodging areas
C&C Alpha Group, a London-based private.