Middle East Loans

Mobily, the Riyadh-based telecoms firm, has reached a $650m shariah-compliant financing agreement with Nokia Siemens Networks (NSN) and Ericsson to fund the acquisition of network equipment from the two firms.

The Islamic Development Bank (IsDB) has signed a $300m Shariah-compliant financing for Egypt.

Turkiye Finans has increased the size of a new murabaha facility to around $500m, making it the largest deal completed by a participation bank in Turkey.

Kuwait Telecommunication Company has signed a $270m five year Islamic finance facility to upgrade and expand its network in Kuwait.

Saudi construction company Al-Khodari Sons Company has signed an Islamic credit facilities agreement with Gulf International Bank (GIB) a Bahraini bank, for SR290.1m.

Saudi Arabia's Sadara Chemical Company has signed a Sr39.375bn ($10.5bn) 12 year export credit agency (ECA) facility in the second largest project financing for a Middle Eastern borrower in five years.

Qatari telecoms firm Ooredoo has withdrawn its bid for Vivendi's 53% stake in Maroc Telecom, leaving regional rival Etisalat as the sole bidder in the $6bn acquisition.

The Islamic Development Bank (IsDB) has signed an agreement with Tunisia worth $1.2bn.

Qatari borrowers were out in force this week after a three firms signed loans from the Islamic and conventional markets.

Investment Corporation of Dubai (ICD) has become the first of three Dubai firms with live deals in the syndicated loan market to close a transaction, signing an oversubscribed $2.55bn facility on Monday.

Kuwait Finance House (KFH) has signed and closed a $500m ijara financing facility for Sharjah Electricity & Water Authority (Sewa).

Qatar Petroleum Country (Qapco) has signed a QR1.1bn ($293m) three year Islamic loan from Barwa Bank.