UAE leads region in bond issuance in H1-21

UAE leads region in bond issuance in H1-21

UAE - Mubasher:  The  UAE has topped  the MENA region in terms of  the total value of issued  bonds during the first half (H1) of 2021  to record  $20.6 billion,  according to a recent report by  Refinitiv.

The report read that the UAE's performance in the region's capital markets in H1-21 is driven by  the  issuance of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) of  shares and convertible bonds, worth $1.2 billion, in May.

In 2020, the country also led  the MENA region in bond issuance and yields for realising  around $40.6 billion yields, up 20% when compared to 2019.

Refinitiv's report also referred that the UAE and Saudi Arabia have accounted for  about two-thirds of  banking fees for bond issuances in the region last year.