Gulf Bond Flurry Sets $102 Billion Record Before U.S. Vote

A burst of debt deals in the Gulf has pushed issuance to a record in the region as borrowers rush to shore up their oil-dependent budgets before the U.S. presidential vote.

Gulf Cooperation Council sovereigns and corporates have sold the equivalent of $102 billion in debt so far this year, already exceeding the highest full-year figure. On top of that, junk-rated Oman priced a $2 billion sale in two parts on Wednesday, alongside offerings by Qatar Islamic Bank SAQ and the Investment Corporation of Dubai.