GCC

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.

Kuwait's Burgan Bank established a new EMTN programme on Sunday which has taken it one step closer to issuing in senior format.

Saudi Arabia could still print its widely anticipated bond in July, according to several EM syndicate bankers.

United Arab Bank’s has signed up four more banks to join the three initial leads on its latest $150m two year loan.

Oman on Wednesday printed the first benchmark sized note from the CEEMEA market since the UK’s vote to leave the European Union last Thursday sent markets into a tailspin.

UniCredit is expanding its business in the Middle East and is in the process of opening a new branch in Abu Dhabi.