ESR REIT & ARA Logos Plan $1bn Merger
Singapore-based ESR-REIT and ARA Logos Logistics Trust have proposed a S$1.4bn ($1bn) merger that involves ESR acquiring all of ARA Logos’ units in exchange for cash and new units. The transaction will be effected by way of a trust scheme of arrangement with a...
Moody’s Expect Emirates NBD to Roar Back to Pre-Pandemic Profitability by 2022
Moody’s has changed the outlook for long term bank deposits and senior unsecured ratings of Dubai based lender Emirates NBD (ENBD) to stable from negative. The rating agency affirmed the A3 long-term deposit ratings and A3 senior unsecured rating of Emirates NBD. It...
MAS Lifts Dividend Cap on Singapore Banks
Singapore’s central bank, the Monetary Authority of Singapore (MAS) lifted its caps on Singapore-based banking and financial companies’ dividend restrictions imposed last year after the pandemic’s impact. Around the same time last year, the MAS had asked local banks...
Ahli Raises $600mn via AT1 at 3.875%
Ahli United Bank raised $600mn via a Perpetual non-call 5.5Y (PerpNC5.5) AT1 Sukuk at a yield of 3.875%, 50bp inside initial guidance of 4.375% area. The bonds are unrated. Ahli United Perpetual Sukuk is the issuer and Ahli United Bank KSCP is the obligor. The bonds...
