Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Only one Gulf issuer has printed a blue bond in the public market
Some say UAE central bank liquidity has prompted banks to retrench
Cracks emerge in underlying quality as banks appear to teeter further into cautiousness
The trade may persuade other top-tier GCC sovereigns that the public market is open
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Aegean Oil Terminal Corp, a Greek oil rig construction firm, has signed a $120m loan with four Gulf banks.
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Aditya Birla Group company UltraTech Cement has wound up a $365m dual-tranche refinancing with five lenders in the syndicate.
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Emirates Global Aluminium (EGA) is wrapping up syndication for a $4.9bn seven year loan facility and will close the deal before the end of the year, according to a banker with knowledge of the deal.
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Banks are arranging a loan of around $3bn for Oman Oil Refineries and Petroleum Industries Company (Orpic) to build the $4.5bn petrochemicals complex called Liwa Plastics Industries.
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As Middle Eastern banks are priced out of deals in their own region by international lenders with lower funding costs, they need to find more deals further afield in Africa and Asia to make decent returns.
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Egypt’s Banque du Caire has cancelled plans to raise a loan for as much as $250m, but may consider signing a loan in 2016 instead.