Middle East Loans
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Kuwait’s Burgan Bank is planning to refinance a $350m syndicated loan that is due to mature next month. -
Saudi Electricity Co’s $1.75bn loan has been successfully sold down to four other banks.
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State-owned Abu Dhabi National Oil Co (Adnoc) is expected to sign its debut syndicated loan facility for $6bn with 13 banks next week.
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Dubai Aerospace Enterprise (DAE) Capital has financed an Airbus A320-200 aircraft for Saudi Arabian Airlines’ low-cost carrier ‘flyadeal’ with a loan from Bank ABC.
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Trade & Development Bank (TDB), the eastern and southern African development bank previously known as Preferential Trade Area Bank, is making its debut in the Middle Eastern loan market with a $200m facility.
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Dubai’s Global Education Management Systems (GEMS) Education has mandated four banks to coordinate its $1.2bn loan.
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The non-US women's health unit of Israel’s Teva Pharmaceutical Industries is mulling the option of issuing its first term loans in euros to fund its buyout by private equity firm CVC.
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Lebanon energy trading company BB Energy signed a $225m revolving credit facility (RCF) on Wednesday to refinance a $200m facility from last year.
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Development finance institutions the European Bank for Reconstruction and Development (EBRD) and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.
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Oman Electricity Holding Co (EHC) has launched its second loan this year as part of its plan to raise $2bn across six of its subsidiaries.
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The National Bank of Ras Al Khaimah Rakbank has closed its debut syndicated loan for $350m with 22 banks.
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Emerging market loan bankers are used to a little political drama but the recent spat between the Saudi-led group of six Arab states and Qatar has caused doubts about whether to engage in deals with Qatari exposure. This stance is understandable for pure Qatari credits but the penumbra of uncertainty has now spread to entities at one remove from Qatar. Banks should not be put off lending.
