GCC

Sharjah Islamic Bank (SIB) is raising a murabaha loan which was launched at $200m but will grow far beyond that size, according to a banker on the deal.

Kuwait National Petroleum Company is in talks for $10bn of loans which have been in the pipeline for almost a year, although syndication has not taken off yet.

Bahrain reopened its 2021s and 2026s with close to a 50bp concession on Tuesday — evidence of the fact that wider spreads in the Gulf bond market are here to stay.

Oman Telecoms (Omantel) is withdrawing a $130m dual currency sukuk it issued on January 27, two sources have told GlobalCapital.

Sharjah Islamic Bank is close to launching a $200m murabaha loan, according to bankers.

Saudi Arabia will likely issue its long anticipated debut dollar bond in dual sukuk and conventional format, according to bankers in the region.

The head of Oman’s central bank has called for his country's borrowers to embrace capital market funding, with the sovereign widely expected to lead the charge itself with a large bond or sukuk.

Abu Dhabi’s government related entities (GREs) are expected to turn to the loan market this year as redemptions and expansion projects in the region increase the need for funding.

The Kingdom of Bahrain is considering a tap of its dual tranche note issued last November in a bid to save its investment grade rating, according to investors in the region.

In a secretive deal that has only come to light now, NBAD signed $1bn of tightly priced one year loans with five close relationship banks at the end of last year. The lenders were Bank of America Merrill Lynch, Crédit Agricole, Citigroup, HSBC and Bank of Tokyo-Mitsubishi UFJ.

Mubadala, the Abu Dhabi investment firm, has launched a $2bn loan refinancing and will likely aim for a tight margin despite a choppy Middle East loan market, according to bankers.

National Bank of Abu Dhabi has mandated six banks for investor meetings starting February 8.