GCC
-
Qatar's Commercial Bank has signed a $166m loan from a group of Asian lenders, mostly Japanese, extending a trend of Middle Eastern borrowers heading east for cash. -
In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.
-
-
Emirati holding company Majid Al Futtaim (MAF) printed a $300m opportunistic tap of its May 2024s on Monday to reopen the Gulf Corporation Council bond market after Ramadan.
-
Omani borrowers have lit up the loan market with deals this year but Bahrain — another country vulnerable to oil price shocks — has seen little deal flow. Two large dollar deals for Bahraini borrowers in recent weeks, however, have shown the country is back in the fray.
-
National Bank of Oman has set terms for a $100m tap of its $500m 3.125% 2019s at 200bp over mid-swaps, which a syndicate official away from the deal said equates to a new issue premium of around 23bp.
-
Majid Al Futtaim (MAF) printed a $300m opportunistic tap of its May 2024s on Monday to re-open the Gulf Corporation Council bond market after Ramadan.
-
With the Republic of Macedonia on the road for the first euro-denominated bond from an emerging market issuer since Brexit and EM credit continuing to rally, bankers are expecting a strong few weeks pre-summer.
-
Kuwait has joined the roster of Gulf Co-operation Council (GCC) sovereigns looking for international financing to help plug increasing fiscal deficits, but while DCM bankers are in no doubt an issue would be met with strong demand, the sovereign has plenty of work to do before coming to market.
-
Oman Shipping Company is syndicating an underwritten loan, after other state-owned Oman firms PDO and Dhofar Power Company wrapped up deals in recent weeks.
-
Kuwait’s Equate bargained hard on the terms of its latest $5bn bridge loan refinancing, bankers said, and the syndicate for the latest loan shrunk as some lenders passed on the deal.
-
Kuwait's Burgan Bank has picked five banks to manage its senior bond offering after establishing a new EMTN programme on Sunday.
