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EM Middle East

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  • UniCredit will upgrade its representative office to a branch in Abu Dhabi to focus on transaction banking and financing in euros and dollars.
  • Abu Dhabi Crude Oil Pipeline, a wholly owned subsidiary and strategic asset of Abu Dhabi National Oil Co. (Adnoc), has released initial price thoughts on a $3bn dual tranche senior unsecured bond and intends to print the note on Thursday.
  • Mazoon Electricity Company is embarking on investor meetings for a dollar Reg S/144A sukuk.
  • If Qatar does go ahead with a bond, it needs to be the one being selective about which banks it will work with.
  • Another long-awaited IPO kicked off on Monday when Emaar Properties, the United Arab Emirates (UAE) real estate company, launched the spin-off of its flagship property development business, albeit with a smaller deal size than initially expected.
  • Trade & Development Bank (TDB), the eastern and southern African development bank previously known as Preferential Trade Area Bank, is making its debut in the Middle Eastern loan market with a $200m facility.