Middle East loans start to surface but telecoms pricing could sink deals
After a lacklustre start to the year, deal flow in the Middle East has begun to perk up as both Abu Dhabi mobile operator Etisalat and Dubai port operator DP World consider new facilities. But Etisalat could struggle to find liquidity for a $2bn syndicated loan as pricing remains a sticking point for lenders, bankers have warned.
"I dont think the deals got any legs," said one loans banker. "Like a lot of these corporates fishing for deals, youre getting a divergence on price."
Furthermore, the trend for Eurozone banks to focus on core markets as they look to shed risk-weighted assets in the run up
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