Middle East Loans

Abu Dhabi Commercial Bank is raising a $300m new money loan from Asian lenders to tap a previously unused source of funding.

Bahrain Commercial Facilities Company (also known as Bahrain Credit) has signed an $80m five year term loan with five banks.

After a slow start to the week, emerging market investors were offered a smorgasbord of options as borrowers from four continents and across the credit spectrum launched bonds in dollars and euros.

After completing its first international bond issue earlier this year, Qatar’s Ahli Bank has also signed a $195m club loan — its second ever loan from international banks.

The names of banks backing Indian firm Intas Pharmaceutical’s bid for the UK and Ireland assets of Teva Pharmaceutical Industries have emerged.

Lenders are finalising a $190m loan for Ahli Bank QSC which has been arranged in a club format, according to a banker on the deal.

Saudi Electricity Company (SEC) signed a Sr5bn ($1.3bn) Islamic loan this week, having already secured $3.8bn in dollar loans this year.

Saudi British Bank (SABB) has completed its first dollar denominated syndicated loan, according to one banker, as the country's borrowers increasingly turn to international debt markets.

International lenders are bidding to arrange the $2.9bn deal for the Dubai Metro 2020 project, over $1bn of which will be a commercial loan which does not have a guarantee.

Aluminium Bahrain (Alba) confirmed on Thursday that its loan had doubled in size, while also revealing the pricing.

Aluminium Bahrain (Alba) has increased the size of its seven year loan from $750m to $1.5bn after strong demand in syndication, said one banker on the deal.

The loan for Aluminium Bahrain (Alba), which is expected to grow beyond its initial target of $750m, is due to be signed on Wednesday.