GCC

Kuwait National Petroleum Co has signed another $1bn loan, after borrowing $4bn in a syndicated facility launched last month, to finance its “clean fuels” project.

Saudi Arabia will begin meeting investors for its debut international sukuk on Sunday. The deal is a long time coming according to those keen to see the development of the Islamic finance market.

ADES International, the Dubai oil and gas drilling services company, is preparing an IPO on the London Stock Exchange to raise capital.

Saudi real estate company Dar Al-Arkan and Dubai property developer Damac look set to add much needed supply to the sukuk market and are lining up trades in the belly of the curve.

The first ever green bond from a Gulf issuer met with what could best be described as moderate interest from the market on Monday, with even bankers on the deal admitting that the execution window was far from ideal.

Qatari residential property developer Ezdan managed to recover its credibility as a sukuk issuer on Wednesday, printing a $500m 2022 at a reasonable spread, after what one EM syndicate banker referred to as its “shambles” of a debut in May.

Mimi Cheng, chief representative of First Gulf Bank in Hong Kong, has left the firm less than a year after taking over the position.

Al Ahli Bank of Kuwait (ABK) is on track to become the fifth bank from the Gulf state to access the dollar market this year, while Ezdan pulls off a coup for lower rated names in the sukuk market.

National Bank of Abu Dhabi (NBAD) priced the Gulf’s first ever green bond 7bp inside initial price thoughts on Monday.

National Bank of Abu Dhabi (NBAD) has emerged with pricing for the Gulf’s first green bond, more than six months after meeting investors to market the note.

Peter Bakos, Bank Muscat’s head of international coverage and origination, has decided to leave the bank to pursue opportunities in Europe.

With just over three weeks to go until Easter, the latest wave of IPOs in EMEA is progressing well. One deal was priced on Tuesday and bookbuilds have begun for two more.