Middle East Loans

Teva, the Israeli pharmaceutical company, will hold a meeting with banks on Wednesday for the syndication of $33.75bn of loans it is using to buy generic drug business Allergan Generics.

Istanbul Airport — Yapi Kredi — Ezdan

Abu Dhabi’s Union National Bank (UNB) signed its latest $750m loan in the nick of time, ahead of a widening margins for Middle Eastern loans, bankers say.

Abu Dhabi’s Union National Bank (UNB) had to scale back commitments on its recent $750m loan despite increasing it from $500m, a bank spokesperson has claimed.

Bahrain’s Bank ABC has hired two bankers as it expands its syndication business.

Abu Dhabi’s Union National Bank (UNB) has increased its latest loan to $750m and closed the deal just in time to achieve a tight margin, according to one banker on the deal.

Qatari real estate firm Ezdan has signed a $500m Islamic finance loan with Mashreqbank acting as sole lead.

United Arab Bank has completed and signed a $125m three year loan with a syndicate of six banks.

The Loan Ranger's trusty companion Silver travelled to the Middle East to learn about the ways of Arabian stallions and the local market, but returned with tales of strange greeting rituals.

United Arab Bank (UAB) will close syndication for its $125m three year loan in the next few days, according to a banker on the deal.

This week brought the first of an expected rush of loans for Middle East banks, while Iraq is seeking a bond deal. Low oil prices mean a need for capital in the region, but it is not time for international dealers and investors to stampede there just yet.

A flood of banks in the Middle East are set to follow the two Abu Dhabi names which are making a dash for cash in the loans market to meet new regulations as they grapple with low oil prices, writes Elly Whittaker.