MIDEAST DEBT-Record issuance marks Gulf's shift towards bonds from loans | Reuters:
"The volume of international bond issues from the Gulf may hit a record high for a second straight year in 2017 as lower oil prices crimp the capacity of banks to finance billions of dollars of investments and state budget deficits.
Issuance data shows the six-nation Gulf Cooperation Council's bond market is on track to become more important than its syndicated loan market in a region traditionally dominated by relationship-driven bank lending.
This historic shift is positive for economies because it eases risks and liquidity pressures for the region's banking system, which has been hurt by smaller flows of petrodollars, bankers and economists say.
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