Middle East Loans

Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), is close to finalising its second syndicated loan, which is scheduled for September. Margins are slimmer than on the borrower’s debut last year, according to bankers, though some in the market wondered if the fund will push even further on pricing before the deal is done.

Albaraka Turk Participation Bank and the Islamic Development Bank have signed a $40m Islamic financing facility to support small and medium enterprises in Turkey.

Middle East loans activity has fallen this year, confounding last year's hopes among bankers, with blame falling indirectly on the US-China trade war and sluggish global growth.

United Arab Emirates aircraft lessor Dubai Aerospace Enterprise has raised $490m in loans, its third syndicated loan in the last 12 months.

Emirates NBD, a Dubai-based bank, has closed its dual-tranche loan at $500m with 15 lenders, increasing it from an initial size of $400m.

Dubai's biggest bank, Emirates NBD, has completed its acquisition of Turkey's DenizBank from Sberbank as the binge of bank mergers in the Gulf continues.

GEMS Education hit the market on Tuesday for a $1.65bn financing package for CVC’s purchase of a minority stake in it. The loan margin had to be widened and the euro tranche of the bond was dumped in favour of extra dollar debt, but the bond is trading strongly in the secondary market.

Renewables pair bring sunshine to project finance market - National Bank of Oman launches loan syndication - Cubico lights up project finance desks - Drax completes bridge refinancing with PPs, ESG debt - Italy’s IMA raises €50m via Euro PP market

The National Bank of Oman (NBO) has mandated two local lenders to arrange a term loan. The deal comes amid a brief capital markets flurry in Oman, despite a tumultuous period for the cash-strapped Sultanate, which has seen its ratings downgraded.

Acciona nabs €155m from green Schuldschein - Places for People seals €150m private placement - Germany’s Badenova sells Schuldschein - Pershing Square nabs $400m in bond private placement - Claranova debuts in euro PP market - Pension Insurance Corp puts £40m into Scottish housing association - Oman's Octal raises $625m for expansion

Dubai-headquartered international education provider GEMS Education is seeking a $1.85bn debt package to support CVC Capital Partners taking a minority stake in the company.

Oman-based Octal, a leading producer of plastic packaging, has raised loans to the value of $625m from a range of local and international lenders