Middle East Loans
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As a poor first half for CEEMEA loan volumes ends, banker optimism is in short supply for the rest of the year – but Turkey, Africa and the Middle East offer hope.
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African Export-Import Bank is on course to wrap up its two year loan this week, said bankers, and is likely to go bigger than its original $700m. -
Emirates National Oil Co finally closed a $1.5bn-equivalent loan on Wednesday, having discussed it since the start of the year.
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Jordanian Egyptian Fajr For Natural Gas Transmission & Supply Co (also known as Jordanian Egyptian Fajr or just Fajr) has signed a $120m syndicated loan with local and regional lenders.
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Emirates National Oil Co is set to finally close a $1.5bn-equivalent loan today (Wednesday), having discussed it since the start of the year.
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Deutsche Bank is moving an emerging markets loan distribution and trading specialist to a senior job in Dubai, as it seeks to increase its activity in the region.
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Egypt’s requirement for energy and infrastructure financing continues to mount, say bankers, and could provide a pipeline of loan deals well into next year.
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Middle East bankers say borrowers have stepped up their loan push before Ramadan, with Abu Dhabi National Energy Company (Taqa) launching $3bn and ENOC’s close imminent.
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National Bank of Egypt has launched a $390m loan, entering syndication at the same time as it has mandated banks for a dollar bond.
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The Egyptian Electricity Holding Co has signed a loan to build power stations, having achieved oversubscribed books.
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Abu Dhabi National Energy Company (Taqa) has launched a five year loan at $3bn, with the possibility of increasing the size depending on demand.
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African Export-Import Bank might enlarge its loan, having received around $1bn of commitments.
