Middle East Loans
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Some eight to 10 banks are expected to lead Chinese company Bright Food (Group)’s $800m loan, which will help fund its acquisition of a majority stake in Israel’s Tnuva. -
Sudan’s need to raise money outside of its domestic market has been illustrated this week, with the sanctions-hit country looking to sign a $50m loan with the Kuwait Fund for Arab Economic Development to finance development projects in the private sector.
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Dubai World subsidiary DP World has signed a $3bn loan deal that comprises conventional and Islamic tranches, replacing its previous $1bn revolving credit facility.
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European banks are so anxious to comply with US sanctions law that in some cases, they are interpreting the rules more strictly than US banks, and even occasionally losing business by it, several bankers said this week. Jon Hay and Michael Turner report.
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Middle East-focused oil trader BB Energy has signed an oversubscribed $175m one year loan from 20 banks, in a deal that lenders say typifies the ample cash available to borrowers.
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Saudi hotelier and entertainment firm Abdulamohssein Al Hokair Tourism and Development Co has signed a SR50m ($13m) four year loan with Saudi British Bank.
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Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.
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Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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Maaden Waad Al Shamal Phosphate Co, a subsidiary of the Saudi Arabian Mining Co (Maaden), has signed a SR18.9bn ($5bn) financing agreement with banks and the state’s Public Investment Fund. Proceeds will be used to fund the construction of the Maaden Waad Al Shamal phosphate project.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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Dubai's Mashreqbank has ended a seven year absence from the loan market by signing a $500m three year deal.
