Middle East Loans

Dubai’s Global Education Management Systems (GEMS) Education has mandated four banks to coordinate its $1.2bn loan.

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.

Lebanon energy trading company BB Energy signed a $225m revolving credit facility (RCF) on Wednesday to refinance a $200m facility from last year.

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.

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.

The National Bank of Ras Al Khaimah Rakbank has closed its debut syndicated loan for $350m with 22 banks.

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.

State-owned Abu Dhabi National Oil Co. (Adnoc) launched a $6bn debut syndicated loan this week after increasing the credit’s size and tightening pricing in response to banks’ hunger for it.

State-owned Abu Dhabi National Oil Co (Adnoc) has kicked off the syndication of its first syndicated loan for $6bn, after increasing its size and tightening pricing further in response to high demand for the facility.

Global Education Management Systems (GEMS) Education of Dubai is to launch a $1.2bn syndicated loan, ahead of its planned initial public offering early next year.

Middle Eastern banks are diversifying their funding portfolios by entering the international syndicated loan market for the first time, with Bahrain Islamic Bank (BisB) signing a deal at the end of September and two more due to sign this month.

Dubai healthcare group Aster DM Healthcare has signed a $295m facility with banks from the UAE and India despite its expansion plans in scandal-hit Qatar casting some concerns over the syndication.