Middle East acquisitions use cash, not loans
Middle East loan volumes this year will be heavily dependent on M&A activity, say loans bankers, warning that if borrowers continue to cancel deals or use cash to fund takeovers, the loan market will remain subdued.
Abu Dhabi investment fund Aabar is set to become a cornerstone investor in commodity trader Glencores initial public offering. Glencore announced that several key investors, including Aabar, would cover 31% of the sale.
It is unclear how Aabar will finance the stake in Glencore, but loans bankers are not
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