GCC
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Saudi Basic Industries Corp (Sabic) has reopened discussions with banks for a loan of as much as $2bn, having put funding plans on hold last year. -
Naeem Shares & Bonds (NSB) brokerage has become the seventh member of Nasdaq Dubai’s equity futures platform.
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Gulf International Bank launched a $500m five year inside fair value on Wednesday, suggesting that demand for Middle East credits continues unabated after a busy 2016.
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If “keeping one’s cards close to one’s chest” in negotiations while also acknowledging the need for market certainty seems like a peculiarly Brexit paradox, try managing the funding plans of a Gulf state as it tries to deal with a budget deficit.
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Dubai’s sovereign wealth fund looks set to reopen the dollar sukuk market next week following the announcement of a five day roadshow covering Asia, the Middle East and Europe.
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The Gulf Cooperation Council (GCC) region looks set to provide a hotbed of loans market activity in the first half of 2017, with bankers sizing up a strong pipeline out of Oman as the sultanate looks to address a budget deficit.
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Gulf International Bank kicked off investor meetings this week for what could be the first publicly syndicated bond from the Middle East this year.
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Oman Oil and Bank Muscat are set to kick off a rash of loans in the sultanate in the coming months, with a number of state owned entities in discussion with lenders as the government looks to address a budget deficit.
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Dubai is close to picking banks for a $3bn loan to fund its airport expansion, according to loan officials, while flydubai is also in talks with banks. But discussion of a deal to back the emirate’s metro development plans are said to have “gone quiet” as the state seeks to avoid deal congestion.
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Equity capital markets in Emea reopened after the holidays this week, with details of the first new capital increases in France and the UK being made public.
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The IPO of Saudi Aramco is likely to remain a top talking point for equity capital markets bankers for much of 2017, but another Saudi deal that is likely to prove more straightforward to bring to market has taken another step forward.
