GCC
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The head of loan syndications at Emirates NBD Capital, the investment banking arm of Emirates NBD, has left the bank. -
Investor appetite for UAE corporate debt was unfulfilled when Mubadala printed $500m from a $5.1bn book last week but with Etihad Airways lining up a dollar trade, investors may have a second chance to buy.
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Noor Bank has mandated banks for its debut Basel III bond and will be looking to soak up excess demand for additional tier one (AT1) debt after Boubyan Bank’s note was over five times subscribed last week.
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The $3bn inaugural loan for Petroleum Development Oman will be the first of many, as the country’s sovereign and corporates head to international debt markets, according to market participants.
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United Arab Bank — Isbank — LSL Property — Nokian
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Strong investor support propelled three GCC trades this week and with oil edging towards $50 a barrel and local liquidity improving, bankers say there is no reason why record year-to-date volumes can’t be reached by the end of this month.
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Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.
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The UAE’s United Arab Bank launched general syndication for a two year $150m loan on Thursday.
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Ezdan Holding, a Qatari property company, has printed the third bond from the Middle East this week, a $500m five year sukuk.
