Middle East

Turkcell İletişim Hizmetleri, the largest mobile operator in Turkey, has released initial price guidance for its 10 year dollar benchmark.

Dubai’s GEMS Education has closed the syndication of a $1.25bn loan with another five banks joining its deal.

Mannai Corporation looks set to bring the first public bond from Qatar since the Gulf diplomatic crisis erupted last summer.

State-owned holding company Investment Corporation of Dubai (ICD) has successfully refinanced a loan maturing in June with a club deal.

Turk Eximbank has signed a €544m loan, above its launch amount of €300m, to refinance debt and support its business backing exporters.

Turkiye Is Bankasi (Isbank) recently signaled its intention to issue, while HSBC Canada has registered a covered bond corporate entity.

The Kingdom of Bahrain was set to print a $1bn 7.5 year sukuk on Wednesday evening from a book of $2.2bn, with leads having managed to crunch the coupon to 6.875%. Rivals had called the guidance for the note “a new record” high for a new issue premium, but leads said the illiquidity of the sukuk curve rendered the concept of new issue premium almost meaningless.

Turkcell İletişim Hizmetleri, the largest mobile operator in Turkey, has mandated three banks to arrange a 10 year dollar bond.

The Kingdom of Bahrain has squashed its plans to issue conventional bonds but is forging ahead with its long seven year sukuk, putting out initial price guidance for the deal.

The UAE’s largest private healthcare company, NMC Healthcare, has signed a $2bn loan with a club of international banks, continuing a growing trend of Middle Eastern private companies entering the syndicated loan market.

Akbank has signed a $1.2bn loan to refinance a loan from last year and achieved tighter pricing than on the previous facility.

Saudi Arabia has had to scale back banks grappling to get on its $16bn loan, which will be used to refinance a $10bn loan taken out in 2016.