About
This is not a news channel. By the time a deal reaches this publication, the headline will have moved on.
What stays is the layer underneath: the analysis, the teardown, and the structural read. A weekly publication on the mechanics of capital markets.
The lens is global, with a deliberate weight on Saudi Arabia and the wider GCC, where the most interesting capital is moving.
Book-building mechanics, allocation structures, pricing dynamics, and post-listing performance analysis.
Deal architecture, consideration mix, governance structures, and cross-border regulatory navigation.
Bond structures, project finance mechanics, guarantee stacks, and credit pricing analysis.
The frameworks and mechanics that underpin how capital moves — from sovereign wealth to private markets.
Elias Calfat is a Riyadh-based finance writer covering transactions across Saudi Arabia, the GCC, and global markets, with a focus on IPOs, M&A, debt capital markets, and corporate finance. He holds a BBA in Finance and Business Information and Decision Systems from the American University of Beirut and is a CFA Level I candidate.
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