Middle East Loans
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Renewable infrastructure a 'hot sector' for funding -
Deal attracts strong investor appetite from exclusively Asian lenders
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Alternative sources of funding are offering competitive pricing
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The company received its first credit rating this week
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Shariah-compliant credit facility expected to play 'pivotal role' for the borrower
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Loan comes after the company prints debut $1bn hybrid bond last week
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The facility is being used to drive Saudi investment in industries away from petrochemicals
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Hopes that Middle Eastern companies would become active in global M&A have yet to materialise as volumes stay depressed
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Only Saudi banks provide facility, as Western banks say the lack of ancillary opportunities makes the business case difficult
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If US interest rate policy is favourable, EMEA lending should spring back
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Having a credit agency on board can help secure a longer tenor, said one loans banker
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Gulf borrowers have the upper hand over banks local and international
