MENA debt capital markets issuance totalled $70.6bln in H1 2021

SectorFinancial Markets

MENA Debt capital markets (DCM) issuance totalled $70.6 billion during the first half (H1) of 2021, down 6 percent from last year during the same period, according to data from Refinitiv. Despite global efforts to roll out vaccines, the economic situation remains volatile in many countries in the region, which were hit hard by the coronavirus pandemic last year. Like the rest of the world, lockdown measures introduced to combat the spread of the virus left many of the MENA economies roiling.

Global data provider Refinitiv said 64 percent of the total came from Investment grade corporate debt, with a total of $45.6 billion. UAE was the top nation for DCM proceeds with $20.5 billion in related proceeds followed by Qatar with $18.7billion. Financials was the top industry performing industry, with $29.5 billion in proceeds. The largest deal of the year so far is the $12.4 billion bond sale from state energy company This was followed by a more...