Middle East
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Lenders are disappointed at the low levels of activity so far this year in the Middle East. The region’s loans market, which struggled last year to match 2018 volumes, will continue to struggle against the booming bond market, according to bankers. -
Dubai’s Emirates NBD Bank has sold a small stake in NMC Health, the beleaguered UAE private healthcare company, to close out a loan owed by Infinite Investment, a vehicle for two of the company’s controlling shareholders.
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The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.
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Zero-E the company that holds the wind, solar and thermal assets of Actividades de Construcción y Servicios has found a private buyer for its Spanish renewables assets, making an IPO unlikely.
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Samba Financial Group sold its $500m seven year bond on Wednesday from a book of $2.3bn. A syndicate official on the deal said that follow-on demand from the Kingdom of Saudi Arabia triple tranche print on Tuesday helped to propel the deal.
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Bahraini investment group Gulf Finance House printed its $300m five year sukuk on Tuesday from a book of more than $750m.
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Saudi Arabia scored a triple tranche dollar deal inside its own curve on Tuesday, raising cash at seven, 12 and 35 years. Samba Financial Group has since followed its sovereign into the market with its own deal.
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Bahraini investment group Gulf Finance House is targeting a $300m five year issue for its debut international sukuk.
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Two CEEMEA sovereigns are taking the plunge this week — the Kingdom of Saudi Arabia with a triple tranche dollar benchmark and Romania with a dual tranche euro bond.
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Frequent syndicated loan borrower and United Arab Emirates-based aircraft lessor Dubai Aerospace Enterprise has raised a $300m term loan with Chinese banks.
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Qatar Islamic Bank this week printed the Gulf region’s first Formosa sukuk, as issuers there stepped up their use of increasingly attractive Asian debt markets.
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