Middle East Loans
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Middle East banks will compete for a role in the Emirate of Sharjah's loan because the deal is likely to be an attractively priced, dirham denominated deal, according to two bankers in the region. -
Five lenders have joined HSBC at the top level of Saudi British Bank’s (SABB’s) $450m syndicated loan, the bank’s first dollar deal from international lenders.
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National Bank of Abu Dhabi has completed syndication of its $2bn loan, which was oversubscribed, and will sign it within two weeks.
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Abu Dhabi Commercial Bank increased the size of its first ever Asia focused loan from $300m to $600m in syndication, after pricing the deal generously to build relationships with new lenders.
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Abu Dhabi industrial investment company Senaat General Holding is refinancing a $500m revolving credit facility and reducing it to $400m, according to bankers close to the deal.
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A former executive director at Goldman Sachs, with over 20 years' experience in the loan market, has become the head of corporate finance at Doha Bank in Qatar.
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The UAE’s Ajman Bank has refinanced its Sharia-compliant loan, growing the deal to $230m in syndication.
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Gulf schools operator Gems Education is following its $250m loan financing in April with another deal for $500m which will be syndicated soon, according to bankers.
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Zain Group of Kuwait is refinancing a $500m corporate loan, syndication of which is due to close soon, according to a banker close to the deal.
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Bank Muscat is preparing to refinance a $600m loan maturing in April next year and will likely aim to raise the same amount with its new facility, said one banker.
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State-owned Abu Dhabi banks ADCB and NBAD have taken a very different approach to the loan market, with one bank paying up to bring in new lenders and the other demanding tight relationship pricing.
