Middle East Loans

Oman’s Bank Sohar has enlisted three lenders to arrange a $300m new money borrowing.

Abu Dhabi National Oil Co (Adnoc) is due to sign a $3bn loan with four lenders — three of which are Japanese — next week, after borrowing $6bn from the international market in November last year.

Qatar National Bank (QNB) launched a $3bn loan on Monday, the first real test of the market since Qatar’s Gulf Cooperation Council (GCC) neighbours severed diplomatic ties with the sovereign. Nine banks have agreed to underwrite the full amount ahead of general syndication, showing initial fears have subsided. But the test is not over — will Qatar’s other relationship banks step up?

Oman Gas Co, Oman’s midstream natural gas transportation company, is expected to sign a $1bn loan with a club of banks.

Abu Dhabi Energy Co (Taqa) has signed a $1.25bn loan with a small club as some banks were deterred by the deal’s tight pricing.

Qatar National Bank has launched a $3bn loan with nine banks underwriting the facility.

Qatar’s Doha Bank extended a $575m loan that was scheduled to mature at the end of last year but it did not extend the whole amount as the deal's Chinese lenders pulled out.

Nomura has hired Nihal Elkafrawi as head of client coverage for the Middle East and north Africa. She will foster cross-selling opportunities for global markets and investment banking, the bank said in a statement.

Saudi Arabian Mining's (Ma’aden) subsidiary Ma’aden Aluminium has signed a $1.78bn syndicated loan to refinance a facility signed seven years ago.

Qatar National Bank has received interest from its relationship banks as well as new lenders from outside the Middle East for a loan refinancing, showing international lenders are no longer afraid of publicly showing their support for Qatari entities six months after its Gulf Cooperation Council neighbours severed ties with the nation.

Adnoc Distribution, Abu Dhabi National Oil Co’s chain of petrol stations and shops, signed a $2.25bn loan with a club of banks before its initial public offering, which was completed last week.

Saudi Arabian Mining Co or Ma’aden, Saudi’s largest mining company, has amended a revolving credit facility that was due to mature at the end of the month.