GCC

Six Japanese lenders have arranged a $1.2bn loan for Abu Dhabi National Oil Company (ADNOC) as part of a $3.3bn loan arranged by Japan Bank for International Cooperation (JBIC) to ensure oil supplies for Japanese companies.

The Sultanate of Oman, having returned to the debt market for a $1bn five year loan, has named the banks in the deal's syndicate.

Equity capital market banks will love an IPO of Saudi Aramco, or parts of it, if one happens. But getting there is going to be arduous and could disrupt other business this year. The best thing for the market would be a quick and clear-cut process. Sadly, bankers say that is unlikely.

The Sultanate of Oman signed a $1bn five year loan on Tuesday, with 11 banks in the oversubscribed deal, despite the sovereign being hit by a downgrade in the middle of the deal.

Saudi Aramco and China Petrochemical Corp (Sinopec) are in talks for a new money loan for the Yanbu Aramco Sinopec Refining Co (Yasref), according to bankers.

BankDhofar of Oman has followed the recent rush of Middle Eastern banks to the loan market for funding and signed a $250m three year club loan with six banks.

Oman Telecommunications has mandated three banks to arrange investor meetings for a Reg S only dollar and/or Omani rial sukuk.

Saudi Arabia gave equity capital market bankers hungry for mega-deals something to look forward to on an otherwise bleak midwinter day of trading on Thursday, as its deputy crown prince touted the idea of a sale of Saudi Aramco shares.

Saudi Electricity Company (SEC) has completed a Sr7.75bn ($2bn) package of loans by signing a $1.4bn three year revolving credit facility in London this week.

Lenders are piling into a $4bn project loan for Oman's Liwa Plastics Industries, lured in by a juicy margin of around 250bp, according to a banker involved in the deal.

Sharjah has become the first CEEMEA issuer to brave the bond markets this year, mandating six banks for a Reg S-only dollar sukuk roadshow and defying sceptics who said earlier this week that Middle East issuance would be postponed as geopolitical tensions in the region escalated.

Low oil prices and the absence of its biggest lender will see the global sukuk market shrink further in 2016 though a couple of brand new issuers are expected, according to Standard & Poor’s.