As companies everywhere struggle to refinance their bonds,
Islamic issuers are finding they have peculiar advantages and
The spread on bonds in the Gulf has widened dramatically in
the past six months. The swap margin on DP World's 10-year bond
from 2007, for example, has widened from 250 basis points to
over 900. It was issued at 100 basis points. Similar bonds by
Taqa and Qatar have widened to almost 600 basis points from 50
The worlds economic crisis contains a
lot of lessons that we can learn from in the
H E Yousef Hussain Kamal, Minister of Economy and
Finance, Qatar, opens the congress
Speakers on a debt capital markets panel at the Middle East
Financial Law Congress in Doha, Qatar described the
difficulties of negotiating over Islamic bonds.
Marisa Drew, co-head of debt advisory and restructuring at
Credit Suisse, said:...