Middle East Loans

Bahraini Islamic lender Ibdar Bank has completed a $100m financing deal with Ethiopian Airlines to acquire four new aircraft, which marks the first Sharia compliant transaction in Africa’s aviation industry.

Zakher Marinte International, a UAE gas and oil service provider, has agreed a $420m Shariah compliant loan with Abu Dhabi Islamic Bank (ADIB).

Advanced Petrochemical Company has repaid the remaining Sr375m of a murabaha loan.

Saudi Kayan, a Saudi Arabia petrochemical company, announced this week that it had signed a murabaha facility with National Commercial Bank and Samba Financial Group.

Dubai Islamic Bank (DIB) and Air Arabia announced on Wednesday they had signed of $230m ijara facility.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, has announced plans for an IPO of Dh2.5bn ($680m), to fund the construction of a multi-theme park project at Jebel Ali.

The European Bank for Reconstruction and Development (EBRD) and the French Development Finance Institution (Proparco) have agreed to provide $100m in loans to fund three photovoltaic generation plants in Jordan.

GlobalCapital has opened the poll to decide the winners of its Syndicated Loans & Leveraged Finance Awards. These awards are the only ones decided by the loan market itself and they are based solely on the public vote.

It’s the moment you have all been waiting for. More hotly anticipated than the reopening of the Russian loan market, GlobalCapital has opened the poll to decide the winners of its Syndicated Loans & Leveraged Finance Awards.

In a busy run for Turkish food company loans, Ülker Biscüvi and Yıldız subsidiary Ak Gıda are set to close conventional and Islamic deals this week. Meanwhile, Yıldız itself has asked HSBC to underwrite a leveraged loan backing its $2bn acquisition of Jaffa Cake maker United Biscuits.

The European Bank for Reconstruction and Development (EBRD) has provided a $25m loan to Moldovan agricultural commodities trader Trans-Oil Group and agreed a $30m credit line to National Bank of Egypt (NBE).

Australian company Manassen Foods, which is partly owned by China’s Bright Food, has completed a $285m refinancing with a club of seven banks.