Middle East Loans

Ooredoo, one of the largest telecommunications firms in the Middle East and Africa, is refinancing a $1bn three year revolving credit facility, according to two bankers.

Emirates NBD is close to finalising a loan of $1.25bn or more, according to two sources at the bank.

Two US private equity firms have raised a $350m-equivalent loan for Network International’s buyout of Emerging Markets Payments Holdings (EMP) and tightened the pricing in syndication.

The head of loan syndications at Emirates NBD Capital, the investment banking arm of Emirates NBD, has left the bank.

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

Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.

The UAE’s United Arab Bank launched general syndication for a two year $150m loan on Thursday.

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.

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.

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.

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.