GCC
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Rather than cherry picking its favourite banks for its $10bn sovereign loan, the Kingdom of Saudi Arabia will “pull together a handful of banks” to get the deal done, according to a banker in discussions with the sovereign.
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Ahli Bank Qatar has tightened price guidance for its debut bond to 265bp-275bp area over swaps, and the deal looks set for success, according to a banker away from the mandate.
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You would think that a role in Saudi Arabia’s first loan in over two decades would be the golden ticket for any bank, but it’s not to everyone’s taste.
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Qatar National Bank is turning to euro funding with its latest €1.5bn loan, which was launched on Tuesday.
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Ahli Bank Qatar (IBQ) has released initial price guidance for its debut bond, a Reg S dollar benchmark, at 275bp area over mid-swaps.
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Ahli Bank Qatar is embarking on a series of investor meetings for its debut bond, a Reg S dollar benchmark.
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Dubai Islamic Bank priced the year’s first public bond from a Gulf Co-operation Council financial borrower tight to its existing curve on Tuesday thanks to strong demand from regional investors.
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Strong demand from yield starved eurozone investors has triggered a flurry of MTNs from Middle-East issuers.
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Aabar Investments has signed a €3.6bn loan facility to repay other debt and reduce borrowing costs, with a targeted syndication set to follow.
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Dubai Islamic Bank emerged with the year’s first public deal from a Gulf Co-operation Council financial borrower on Tuesday morning.
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Dubai Islamic Bank is embarking on a roadshow for a senior dollar sukuk, and looks likely to be the first bank from the Gulf Cooperation Council to enter the public bond markets this year.
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International banks have been keenly awaiting a mandate for $10bn of loans for Kuwait National Petroleum Company (KNPC) and this week the borrower said it was starting the financing with local lenders.