Middle East

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.

Syndicates away from the Kingdom of Bahrain's new issue are saying that a huge widening in the sovereign’s outstanding bonds is indicative that investors are “not happy” to see the new paper arriving, though those on the deal are simply blaming market volatility.

Turkish participation banks Albaraka Türk and Vakif Katilim have kicked off the global syndication of two murabaha facilities.

Bahrain is on track to return to the dollar bond market this week despite weak external conditions, according to bankers involved in the process.

Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.

After wrapping up investor meetings on Monday, Abu Dhabi Commercial Bank has opened books on a new five year dollar deal, offering around 30bp premium in order to attract investors in a "shakier market.”

The Kingdom of Bahrain has announced the only new CEEMEA bond mandate of the week so far, looking for a multi-tranche benchmark deal to follow its storming last foray into the international bond markets in September.

Russian gold miner Nordgold and coal company Siberian Coal Energy Co (suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.

China’s Qinghai Provincial Investment Group Co was forced to pay up around 75bp in new issue premium to complete a $250m bond on Friday, as investors voiced their scepticism about the low rated issuer.

Energean, the Mediterranean-focused oil and gas exploration company, has managed to successfully price its IPO on the London Stock Exchange after restructuring the deal as a club sale to four investors.

Credit Suisse has put two emerging markets DCM bankers at risk.