Middle East Loans

Aluminium Bahrain (Alba) has secured commitments for a $700m export credit facility to finance its Line 6 expansion project.

The third largest private sector bank in India, Axis Bank, has provided a $295m loan to Aster DM Healthcare after it failed to alter the terms on a previous loan.

Kuwait National Petroleum Co has signed another $1bn loan, after borrowing $4bn in a syndicated facility launched last month, to finance its “clean fuels” project.

Mimi Cheng, chief representative of First Gulf Bank in Hong Kong, has left the firm less than a year after taking over the position.

Peter Bakos, Bank Muscat’s head of international coverage and origination, has decided to leave the bank to pursue opportunities in Europe.

Dubai shopping centre builder Majid Al Futtaim (MAF) has closed a revolving credit facility in a club deal with relationship banks.

Etisalat Nigeria will meet with 13 local lenders this week to discuss its restructuring plans for a $1.2bn loan taken out in 2013, according to the Nigerian Communications Commission (NCC).

Bank Muscat has successfully completed its $525m syndicated loan refinancing, adding to Oman’s accumulating loan book.

Oman’s sovereign wealth fund, which is accessing Asian liquidity for a $600m acquisition loan, has bagged commitments from Taiwanese banks.

Turkish lender Vakifbank has signed a three year bilateral loan agreement with ICBC’s Dubai branch for $250m.

Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.

Gulf issuance dominated the picture in the CEEMEA bond market during the first half of the week as Oman brought the year’s first bumper sovereign deal from the region and two UAE borrowers boosted supply.