GCC
-
-
Even the big beast of the Middle East is suffering the financing pressure sweeping the region. The margin on oil-drenched Saudi Arabia’s $10bn loan, revealed this week, compared to what it might have coughed up just months ago shows no borrower is immune, writes Elly Whittaker. -
Investors and analysts found encouragement this week in the resilience of oil prices after the failure of OPEC talks in Doha on Sunday. But there are signs that the positive mood will not last long.
-
Commitments are due for Qatar National Bank's €1.5bn loan on Friday, after only a short stint in the market. The deal is expected to entice a raft of European lenders keen to put cheaply raised euros to work.
-
Saudi Arabia will pay a margin of between 100bp-110bp for its loan of up to $10bn, according to a banker on the deal.
-
Luxury hotel complex Atlantis the Palm, is syndicating an $850m-equivalent loan to pay for the next stage of development for the five star resort.
-
The Dubai Gold and Commodities Exchange (DGCX) is moving forward with plans to broaden its China offering with equity futures for mainland companies. Meanwhile, Bank of China Hong Kong (BoCHK) has received approval to open a branch in Brunei, the first for a Chinese bank.
-
Bank Muscat has mandated eight banks for a Reg S dollar benchmark bond.
-
The Emirate of Abu Dhabi has mandated three banks to roadshow dollar benchmark, jumping into the market for its first bond since 2009 ahead of up to $20bn of potential sovereign supply from the region this year.
-
The $250m loan for Gulf schools operator GEMS Education has been signed with mostly Middle Eastern banks in the syndicate.
-
Cheap euro loans from European banks are attracting the attention of typically dollar hungry EM borrowers, as Qatar National Bank (QNB) launched a rare offer in the currency.
-
Ahli Bank Qatar printed its $500m five year bond on Wednesday from a $1.2bn book, demonstrating that there is investor demand for Middle East bank debt at the right price.
