Middle East Loans
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The Egyptian Electricity Holding Co is oversubscribed on a loan to build power stations, said bankers on the deal. -
African Export-Import Bank could launch a $500m loan as early as next week, say bankers.
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The Egyptian Electricity Holding Co launched a $521m loan to build power stations, a small step as the country undertakes a large expansion programme in the industry.
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The strongest start to a year for Middle East loans since 2007 has left some bankers questioning whether the region can sustain the pace, but the deals keep coming.
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African Export-Import Bank will finalise mandated lead arrangers for a loan of around $500m in the next week or two.
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Kuwait Foreign Petroleum Exploration has increased the size of a $1bn loan it signed in late November to $2.5bn, by exercising the deal’s accordion feature.
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Royal Bank of Scotland has sold a Dh3bn ($816m) portfolio of corporate loans in the United Arab Emirates to Commercial Bank of Dubai.
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Ooredoo, formerly known as Qatar Telecom, is wrapping up a $500m Shariah-compliant five year revolving credit facility, say bankers involved in the deal.
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Ooredoo, formerly known as Qatar Telecom, is wrapping up a $500m Shariah-compliant five year revolving credit facility, say bankers involved in the deal.
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It has been a big week for Saudi loans, with Saudi Aramco closing a $10bn revolver and Apicorp signing $950m worth of Shariah compliant loans.
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The Middle East has provided the one saving grace of European, Middle East and Africa first quarter syndicated loans volumes, with falls elsewhere from the same period last year.
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Saudi Arabian Oil Co (Aramco) has completed a $10bn multi-tranche revolving credit facility at tight pricing, which will back its expansion into new markets.
