GCC
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Middle East loans activity has fallen this year, confounding last year's hopes among bankers, with blame falling indirectly on the US-China trade war and sluggish global growth. -
United Arab Emirates aircraft lessor Dubai Aerospace Enterprise has raised $490m in loans, its third syndicated loan in the last 12 months.
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Emirates NBD, a Dubai-based bank, has closed its dual-tranche loan at $500m with 15 lenders, increasing it from an initial size of $400m.
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Bank of Sharjah is planning to print both tier one and senior bonds before the end of 2019, according to two DCM bankers in Dubai.
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Dubai's biggest bank, Emirates NBD, has completed its acquisition of Turkey's DenizBank from Sberbank as the binge of bank mergers in the Gulf continues.
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GEMS Education came to the market on Tuesday with a pair of seven year senior secured bonds. The issues form part of a larger debt package being raised to support private equity firm CVC Capital Partners purchase a minority stake in the Dubai-headquartered education provider.
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A pair of Middle Eastern credits received large orders for what may be among the last bonds issued before the summer lull.
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Renewables pair bring sunshine to project finance market - National Bank of Oman launches loan syndication - Cubico lights up project finance desks - Drax completes bridge refinancing with PPs, ESG debt - Italy’s IMA raises €50m via Euro PP market
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Oman came to market on Thursday for a pair of dollar benchmarks, offering initial price thoughts onlookers described as "generous" and gathering a large order book ahead of the opening of the New York market.
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An expected return of Brexit volatility means that there are likely to be fewer UK firms doing IPOs in the fourth quarter of the year, but London will continue to host high profile international listings to make up the shortfall.
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The National Bank of Oman (NBO) has mandated two local lenders to arrange a term loan. The deal comes amid a brief capital markets flurry in Oman, despite a tumultuous period for the cash-strapped Sultanate, which has seen its ratings downgraded.
