Middle East Loans
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State-owned Majan Electricity Company is syndicating an Omani riyal and dollar denominated loan, according to bankers. -
Saudi Aramco and China Petrochemical Corp (Sinopec) will complete the $4.7bn loan for their joint venture refinery within the next week, according to bankers.
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Bankers pitching to lead the first loan for Saudi Arabia in more than 20 years say the borrower will tussle for tight pricing even though the Gulf’s other sovereigns and blue chips face further downgrades, write Elly Whittaker and Virginia Furness.
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Aster DM Healthcare is close to sealing a $280m multi-tranche syndicated loan, with three or four lenders already committing to the deal.
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This week Sharjah Islamic Bank (SIB) launched its $200m murabaha loan, which offers all-in pricing of 240bp for top tier banks — welcome fodder for regional lenders, which face growing funding costs.
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Sharjah Islamic Bank (SIB) will pay a margin of 165bp for its $200m murabaha loan, which should launch syndication early next week, according to a banker on the deal.
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Emirates Global Aluminium has completed its $4.9bn loan refinancing, with eight lenders joining the underwriting banks, as this week the borrower announced its income had almost halved last year.
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As Kuwaiti petrochemicals company Equate decides how to refinance its $6bn bridge loan, the borrower will likely avoid the bond market and stick to loans in the near future, bankers told GlobalCapital.
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A run of loans for highly-rated Middle Eastern government related entities (GREs) is expected to shape the year for Gulf loans.
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As the Middle East's banks face rising funding costs, one is arranging what it describes as a mezzanine loan for a Gulf schools operator in a drive for juicier loan margins.
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Sharjah Islamic Bank (SIB) is raising a murabaha loan which was launched at $200m but will grow far beyond that size, according to a banker on the deal.
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Kuwait National Petroleum Company is in talks for $10bn of loans which have been in the pipeline for almost a year, although syndication has not taken off yet.
