Middle East Loans

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.

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.

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.

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.

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.

National Bank of Egypt has launched a $390m loan, entering syndication at the same time as it has mandated banks for a dollar bond.

The Egyptian Electricity Holding Co has signed a loan to build power stations, having achieved oversubscribed books.

Abu Dhabi National Energy Company (Taqa) has launched a five year loan at $3bn, with the possibility of increasing the size depending on demand.

African Export-Import Bank might enlarge its loan, having received around $1bn of commitments.

Egypt has added impetus to its drive to renew its energy and other infrastructure, say bankers, with several big financing deals in the works to fund projects.

African Export-Import Bank has nearly reached its target for a loan, having attracted $700m of commitments, and officials involved say there is more to come.

Emaar Economic City, the consortium joint venture between Dubai's Emaar Properties and Saudi investors, has signed a Sr1bn ($267m) Islamic loan facility with Saudi banks.