GCC
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Etihad Airways will meet investors from Thursday to introduce a structured deal that has been alternately described by bankers away from the transaction as “impressive” and “too clever by half.” -
Abu Dhabi's First Gulf Bank has agreed a loan at a margin 60bp tighter than its last deal, as it raises $1bn to meet the liquidity requirement of the United Arab Emirates central bank.
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OSN, the Dubai-based subscription television company, has signed its second syndicated loan for $400m, which was twice oversubscribed.
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Abu Dhabi's Union National Bank has closed books for its three year loan and will increase it from the launch size of $500m, according to a banker on the deal.
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Bank of America Merrill Lynch and Wells Fargo are coordinating First Gulf Bank’s $1bn loan, which has all-in pricing of 85bp over Libor.
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Saudi Electricity Co has received approval from its executive committee for a new sukuk programme and a revolving credit facility. If the firm deploys the former this year it should help breathe life into a sukuk market that has lost much of its steam after a strong start to the year.
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Kuwait International Bank (KIB) will sign a $320m three year Sharia-compliant loan on Monday. It was the Islamic bank’s first loan in eight years and was increased from $100m.
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We remarked last week that emerging markets could face a difficult time ahead. Well, we didn’t have to wait long before the early manoeuvers in a possible currency war had an impact on sovereign CDS spreads.
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Kuwaiti financial Burgan Bank has receive approval to buy back $400m and KD100m ($329.7m) in subordinated debt, which will no longer count as capital under Basel III regulation.
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Abdulla Ali has joined Abu Dhabi Islamic Bank (ADIB) as head of agency, corporate finance and investment banking.
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Kuwaiti financial Burgan Bank has receive approval to buy back $400m and KD100m ($329.7m) in subordinated debt, which will no longer count as capital under Basel III regulation.
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