Middle East Loans
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The $3bn inaugural loan for Petroleum Development Oman will be the first of many, as the country’s sovereign and corporates head to international debt markets, according to market participants. -
United Arab Bank — Isbank — LSL Property — Nokian
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Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.
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The UAE’s United Arab Bank launched general syndication for a two year $150m loan on Thursday.
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Quasi-state owned Petroleum Development Oman is reaching out to banks for a $3bn club loan, and asking for chunky tickets of $300m each, according to sources.
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Lenders have piled in with aggregate commitments well beyond the €1.5bn deal size for Qatar National Bank, as the lender swerved negative ratings actions against a number of Qatari banks.
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The Islamic subsidiary of Turkey’s Ziraat Bank has signed its first murabaha loan, increasing the deal from $75m to $155m. Meanwhile, Sharjah Islamic Bank secured a $265m loan.
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Saudi Arabia signed a $10bn loan with its relationship banks this week, according to one lead banker, and secured the price of a three year loan with a guarantee of five year money, according to three bankers.
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Saudi Arabia will sign its $10bn sovereign loan on Wednesday, according to a lead banker, and the tenor is shorter than many think, according to two other sources.
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Abu Dhabi-owned Mubadala will wrap up its $2bn refinancing by the end of May and has achieved roughly the same margin as the loan it refinances, according to two sources.
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Oman's ministry of finance has signed a $2bn syndicated loan to buy aircraft from the UK’s BAE Systems, according to a banker on the deal, as the country prepares to launch its first international bond.
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