Rethink on Gulf bond sales as costs stay high | The National:
"High pricing will deter regional companies and governments from selling bonds, despite facing a liquidity crunch, according to a top US money manager.
Franklin Templeton Investments expects issuers to seek out cheaper funding routes as governments grapple with rising deficits and companies seek funds for expansion or to repay old borrowings.
“If the bond market pricing remains elevated, we will see more local issuance, we will see more syndicated loans, maybe some multilateral-type funding. So I wouldn’t just take it for granted that budget deficits equals a tremendous increase in issuance,” said Mohieddine Kronfol, the chief investment officer for global sukuk and Mena fixed income at Franklin Templeton Investments."
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