GCC

Abu Dhabi National Oil Co has signed its $6bn debut syndicated loan facility with 13 banks. The deal was well received by banks, driving down pricing to new lows.

Emaar Development, the real estate development unit of Emaar Properties, has priced its Dh4.8bn ($1.4bn) IPO below the mid-point of the initial range, valuing the business at Dh24.1bn ($6.6bn).

Qatar is preparing a non-deal roadshow at the start of December, according to two sources with knowledge of the state’s plans, with a $9bn bond in the offing.

Bankers working on the IPO of Emaar Development, the real estate development subsidiary of Emaar Properties, have revised the price range to Dh6.03-Dh6.90, from the initial Dh5.70-Dh6.90 range.

Abu Dhabi National Oil Co, the oil company owned by the emirate, has announced plans to float its chain of petrol stations in the United Arab Emirates, in what could be a highly significant deal for the region.

Oman Oil is set to push the boundaries on banks’ country limits with a $7bn loan facility it is seeking to finance its Duqm refinery.

Abu Dhabi National Oil Co, the oil company owned by the government of the United Arab Emirates, has announced plans to float its chain of petrol stations in the UAE in an IPO on the Abu Dhabi Securities Exchange.

Oman’s sovereign 2047s fell by as much as three cash points after Standard & Poor’s last Friday lowered the sultanate’s long term foreign currency credit rating to BB from BB+.

Albaraka Turk, Turkey’s first participation, or Islamic, bank, has signed a $101m murabaha loan with seven banks.

The Dubai Gold and Commodities Exchange on Monday announced it had launched 44 Indian single stock futures, giving investors exposure to blue-chip companies.

Saudi Arabian asset prices failed to bounce back this week after last weekend’s high profile arrests, even though wider emerging markets staged a late recovery.

ating: A+/A3