International bond sales from the Gulf states have hit record levels, boosting the leading global banks working in the region as well as a newly enlarged local name.

Abu Dhabi priced a $10bn bond on October 3 in its largest ever fund raising in the international markets. The deal came a week after a $12.5bn issuance from Saudi Arabia. As a result, five of the 10 largest bonds ever sold by issuers in the Gulf Cooperation Council have been priced in 2017, and three of the largest five.