GCC

Oman is finalising a $1bn sovereign loan and could sign as early as tomorrow (Thursday), according to a banker on the deal.

Options traders took Monday's oil volatility seriously, sending prices for near-dated contracts to some of the highest levels of recent months.

Kuwaiti petrochemicals firm Equate has signed $6bn of loans, with a range of lenders from different regions joining the five underwriting banks.

Any hopes among European credit traders of easing back into 2016 with a peaceful first week were shattered from the outset on Monday, as spreads gapped wider due to China’s stock market woes and oil price volatility arising from Saudi Arabia’s new stand-off with Iran.

Kuwaiti logistics firm Agility Public Warehousing Company is arranging its first loan since 2008, according to bankers.

Kuwait’s Burgan Bank is wrapping up a year of busy financing activity from Middle Eastern banks. It completed a $350m loan on Wednesday, increased from $300m.

Aegean Oil Terminal Corp, a Greek oil rig construction firm, has signed a $120m loan with four Gulf banks.

Emirates Global Aluminium (EGA) is wrapping up syndication for a $4.9bn seven year loan facility and will close the deal before the end of the year, according to a banker with knowledge of the deal.

Banks are arranging a loan of around $3bn for Oman Oil Refineries and Petroleum Industries Company (Orpic) to build the $4.5bn petrochemicals complex called Liwa Plastics Industries.

South Korean construction firm SK Engineering & Construction Co has signed a $100m loan for general corporate purposes from three Middle Eastern banks.

The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.

Qatar's Doha Bank signed a $575m two year loan on Thursday, increasing the deal from the launch size of $500m.