Middle East
-
Nick Darrant, JP Morgan's head of CEEMEA debt capital markets syndicate, is leaving the bank after five years to join Citigroup as co-head of EMEA syndicate. -
İşbank, Turkey's largest private bank by assets, is the latest financial institution from the country to refinance its existing debt, while managing to maintain competitive margins.
-
After a week of speculation over which central banks would provide Turkey with a currency swap line, its central bank has announced an increase to an existing arrangement.
-
The Emirate of Abu Dhabi took full advantage of a ready and willing investor base on Tuesday looking for high quality emerging markets to buy in the coronavirus pandemic, driving down pricing on a triple tranche tap to levels that leads saw as 5bp inside the issuer's own curve.
-
Turkey’s Garanti Bank has raised a $592.4m-equivalent ESG-linked syndicated loan — the first of its kind signed by a bank. The deal, despite being launched at the beginning of the coronavirus crisis, went successfully, according to bankers, following a string of refinancings by other Turkish banks.
-
The Emirate of Abu Dhabi made a swift return to bond markets on Tuesday just six weeks after it printed a $7bn triple tranche trade, tapping that same deal.
-
Yapi Kredi is the latest Turkish bank to refinance existing debt, following peers like Akbank and VakifBank. But bankers said that margins on its deal do not reflect current market conditions.
-
Emerging market borrowers are turning their noses up at the terms on offer in the loan market, which have become dearer during the coronavirus pandemic. Lenders say they are willing and ready to lend, but are not ready to concede on their terms, writes Mariam Meskin.
-
Mamoura Diversified Global Holdings took full advantage of fast-building momentum behind Gulf issuers on Tuesday, when it printed a $4bn triple tranche trade that won $23bn of orders.
-
Turkey has stood out among emerging market countries for its rapid-fire approach to monetary policy, as it attempts to turbo-charge growth amid the coronavirus pandemic. But with sustained downward pressure on the lira, few foreign investors are willing to buy in. The crisis is also causing a hedging conundrum.
-
Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.
