Middle Eastern debt boom continues:
"The Oil and Gas Holding Company B.S.C., which is fully owned by the kingdom of Bahrain, has sold $1bn of bonds as a rush of unprecedented capital markets borrowing from the Middle Eastern region continues.
The bond came at a yield of 7.5 per cent, and included a special clause which allowed investors to recoup their money at par if the government “ceases to own 100% of the issuer”.
The deal came as Abu Dhabi Crude Oil Pipeline LLC mandated banks to organise investor meetings for a potential bond. The issuer is indirectly wholly owned by ADNOC, Abu Dhabi’s state-owned oil company and one of the largest oil producers in the world."
'via Blog this'
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