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EM Middle East

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The bank exercised a call date a month ago and has another late this year
Sovereign bond print went ahead despite missile and drone attacks just before pricing
Books on the dollar deal opened just hours after Iran attacked the country
Israeli issuer called its previous tier two early last year
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  • Dubai oil industry service group Lamprell has signed a new $181m credit facility, split between a $100m term loan, a $60m term loan and a $21m revolving credit facility.
  • The $750m syndicated loan for Kuwait Foreign Petroleum Co (Kufpec) is being held up by technical factors, more than one month after bankers hoped to get the deal signed.
  • Israel Electric braved an uncertain market to launch a dual tranche dollar deal this week, but it managed to print a solid trade on Tuesday afternoon in spite of market uncertainty ahead of the US Federal Open Market Committee meeting on Wednesday.
  • The Middle East and north Africa's largest independent steel producer, Ezzsteel, has signed a E£550m ($79m) top-up syndicated loan from local banks.
  • SSA
    Emerging market bond bankers hope Wednesday's US Federal Open Market Committee meeting will calm the market and offer issuers a window. Israel Electric has already proved successful deals can get done, and there are plenty of borrowers waiting for their chance.
  • Dubai world subsidiary DP World has improved the terms on its $1bn revolving credit facility a year after bankers described the pricing on the deal as "painfully low".