GCC

Topaz Marine, an oil field support services provider based in Dubai, is meeting investors for what will be the first bond from a Gulf Co-operation Council domiciled issuer since the beginning of the Qatar crisis.

The Dubai Gold and Commodities Exchange (DGCX) and the Abu Dhabi Securities Exchange (ADX) have announced their aim to work towards a unified clearing house in the United Arab Emirates.

Qatari banks have been involved in several syndicated loans in the past month, despite the stand-off between the nation and six other Middle Eastern states.

Abu Dhabi National Oil Co (Adnoc), the upstream, midstream and downstream oil company owned by the government of the United Arab Emirates, is considering floating minority stakes in some of its services businesses.

Aluminium Bahrain (Alba) has closed the first tranche of its $700m export credit agency (ECA) covered facility taken out in April to finance its Line 6 expansion project.

CEEMEA primary issuance will be clustered around the last few days of the week as Liquid Telecom is yet to announce price guidance on its $600m five non-call three year trade.

Foreign ministers from across the Gulf meet in Cairo on Wednesday to discuss the continued tensions with Qatar, as bank analysts predicted the Saudi Arabia-led coalition against Qatar will reject the country’s response to its demands.

Investor hedging for turbulent Brexit negotiations and US president Donald Trump’s legislative agenda has aided the growth of gold and currency derivatives contracts at the Dubai Gold and Commodities Exchange (DGCX), its CEO said on Sunday.

Standard Bank is planning to launch a $750m syndicated loan, and hopes to drum up enough interest to enlarge it to $1.25bn.

Etisalat has been given until Friday to transfer all its shares in Etisalat Nigeria to a syndicate of 13 Nigerian banks, after talks on restructuring a $1.2bn loan from 2013 fell through.

Arabtec Holding, the United Arab Emirates’ largest listed construction firm, said on Tuesday its rights issue was fully subscribed, raising Dh1.5bn ($408m) for a recapitalisation.

Etisalat Nigeria is in the “advanced stage” of its negotiations with 13 local banks over the restructuring of a $1.2bn loan taken out in 2013, according to the company.