Middle East Loans
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Oman Oil Co, a state-owned investment arm of the sultanate, has signed a $1.85bn unsecured financing with banks, according to two loans bankers.
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The Islamic Development Bank (IsDB) has approved $987m of financing for socio-economic development projects in member countries and Muslim communities in non-member countries. -
Bahrain’s Gulf Finance House has signed a $105m murabaha credit facility agreement with Kuwait Finance House’s Bahraini subsidiary.
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The Saudi Public Transport (Saptco) has signed a three year SR64.2m ($17.1m) Islamic financing facility with the Saudi British Bank.
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Loan bankers have every reason to be getting twitchy. Any lingering hopes of Russian deals getting a reprieve were finally extinguished this week as fighting continued in Ukraine and tensions with Russia escalated, writes Dan Alderson.
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Dubai dominated in emerging market loans this week, with big-name borrowers taking advantage of bankers’ woes elsewhere to push for tighter repricing of their existing deals.
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National Bank of Abu Dhabi is set to embark on a hiring push as it makes its bid for the top in loans, bonds and sukuk origination.
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The Russian loans market is all but shut and other emerging markets quiet as participants take their summer vacations, but activity the Middle East is ticking over this week thanks to repricing moves by some of Dubai’s big name borrowers.
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The Russian loans market is all but shut and other emerging markets quiet as participants take their summer vacations, but activity the Middle East is ticking over this week thanks to repricing moves by some of Dubai’s big name borrowers.
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Europe’s loan market may have hit a summer lull, but amid sweltering temperatures the Gulf has this week seen big deals unveiled and others rumoured.
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Emirates Airlines has signed a $425m Shariah-compliant financing facility with three local banks to help it buy new aircrafts.
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United Arab Emirates corporate Emirates District Cooling (Emicool) has signed a 12 year $245m Shariah-compliant refinancing facility with Dubai Islamic Bank, adding to the swathe of UAE corporates that have been choosing to refinance deals early because of the favourable funding conditions on offer.
