GCC

Abu Dhabi Commercial Bank increased the size of its first ever Asia focused loan from $300m to $600m in syndication, after pricing the deal generously to build relationships with new lenders.

Senaat — Ajman Bank — Zain

Abu Dhabi industrial investment company Senaat General Holding is refinancing a $500m revolving credit facility and reducing it to $400m, according to bankers close to the deal.

The Dubai Gold and Commodities Exchange has signed up the Industrial and Commercial Bank of China as a clearing and settlement bank, which it hopes will ease its introduction of Shanghai gold futures.

A former executive director at Goldman Sachs, with over 20 years' experience in the loan market, has become the head of corporate finance at Doha Bank in Qatar.

Aberdeen Asset Management is beefing up its Middle East offering and has relocated two senior personnel to its first office in Abu Dhabi, which opened officially on Wednesday.

The Nasdaq Dubai Futures Exchange has signed up National Bank of Abu Dhabi (NBAD) as a second market maker for its equity futures, after trading gained momentum in recent weeks.

The UAE’s Ajman Bank has refinanced its Sharia-compliant loan, growing the deal to $230m in syndication.

Gulf schools operator Gems Education is following its $250m loan financing in April with another deal for $500m which will be syndicated soon, according to bankers.

Zain Group of Kuwait is refinancing a $500m corporate loan, syndication of which is due to close soon, according to a banker close to the deal.

Bank Muscat is preparing to refinance a $600m loan maturing in April next year and will likely aim to raise the same amount with its new facility, said one banker.

Etihad Airways will begin investor meetings on a reverse enquiry for an intermediate sukuk, the successful placement of which will result in the borrower’s first ever standalone bond.