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EM Middle East

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  • Axis Bank’s presence in the top group of a recent loan for Oman’s Bank Sohar has once again put the focus on Indian lenders’ efforts to expand their overseas balance sheets. Banks from the south Asian country see FIG deals as a safe gateway to business in unfamiliar geographies — and are keen to step up their game. Shruti Chaturvedi reports.
  • UBS led the biggest Israeli follow-on offering for almost three years on Tuesday morning on behalf of the Potash Corp of Saskatchewan, the Canadian potash producer that recently merged with Agrium to create Nutrien.
  • Taptica International, the London-listed Israeli digital marketing solutions company, has raised £21.8m to finance future M&A in a £38m share sale that attracted substantial demand. The deal also provided an opportunity for its investors to monetise some of their investment in the company.
  • Dubai’s GEMS Education hosted a roadshow last week for a $1.25bn loan, which attracted a mix of local and international banks.
  • Mizuho International (MHI) is expanding its presence in the Middle East and has opened an office in the Dubai International Financing Centre (DIFC). The bank has moved over a DCM banker from London to head the team, and is eyeing further expansion.
  • Oman’s Bank Sohar has enlisted three lenders to arrange a $300m new money borrowing.