GCC

The Islamic Development Bank (IsDB) printed the first public dollar trade from the EMEA region since the November 8 US elections on Wednesday and managed to drive pricing inside its curve.

National Bank of Abu Dhabi has completed syndication of its $2bn loan, which was oversubscribed, and will sign it within two weeks.

The Islamic Development Bank is marketing a sukuk, the second Islamic bond in two weeks. The deal is expected to be priced on Wednesday.

Saudi Arabia’s International Co for Water and Power Projects (ACWA Power) is lining up the first corporate bond from the country since the sovereign’s $17.5bn debt sale in October. But ACWA’s “complicated” bond has left some investors perplexed and planning to sit out the trade. However, the bookrunners say there are decent anchor orders to support the book nonetheless, writes Virginia Furness.

Etihad Airways on Wednesday printed its first standalone bond — a privately placed dollar sukuk — after a three day execution process, navigating difficult markets to raise $1.5bn.

Emerging market bond prices have begun to stabilise following the recent rout. The brief spell of stability before Thursday's Thanksgiving holiday in the US will come as welcome relief to the three issuers in the market on Wednesday.

Saudi Arabia's International Company for Water and Power Projects (ACWA Power) is lining up the first corporate bond from the country since the sovereign’s $17.5bn debt sale in October. The issuer has a tricky market calendar to navigate but plans to print the $1bn deal before year end, and is expected to offer a pick-up over the sovereign.

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.