Middle East

First Abu Dhabi Bank (FADB) appeared in the Swiss franc market on Thursday, selling five year bonds in an arbitrage driven transaction.

Kuwait’s Zain Group has signed a $700m five year revolving credit facility, with all lenders scaled back by the telecoms company following an oversubscription.

Emerging market borrowers and investors are returning from the summer break slowly but surely this week, but caution is still the prevailing tone.

It has been a dreadful August in emerging markets, but borrowers still have cash to raise and, despite the violent swings in secondary market levels, investors will have cash to put to work when the UK bank holiday has passed.

Lenders working on Turkish bank syndicated loans say deals are still going ahead, and any suggestion that the country’s woes have postponed the active deals are just rumours.

The postponement of the Saudi Aramco's IPO is just the latest blow to emerging market (EM) equities. Volatility is biting ever harder, taking lumps out of an ever dwindling autumn pipeline. Sam Kerr reports.

Panic has gripped Turkey's markets, sending investors scuttling. Luckily, the loan market has proved once again that it is capable of providing much needed cool heads amid the sea of red on screens this summer.

It’s been a turbulent summer in emerging markets, but borrowers in the Middle East in particular are already eyeing their return to the market.

Lenders working on Turkish bank syndicated loans say deals are still going ahead, and any suggestion that the country’s woes have postponed the active deals are just rumours.

Turkish president Recep Tayyip Erdoğan has frequently used FX and equity market investors as straw men on which to blame Turkey’s economic woes, rather than his own government’s economic mismanagement, a claim given veracity now by the petulant tweeting of US president Donald Trump.

Amid the chaos in Turkey, bankers are pitching bond buy-back opportunities to the country's beleaguered banks. Many argue that those in a position to take them up should be looked upon favourably by investors. The problem is, those investors might not even notice.

Two rating agencies lowered Turkey’s credit rating on Friday evening, but the beleaguered nation’s asset prices have largely shrugged off the news, despite predictions of a recession.