Middle East

Turkey’s Vakifbank has signed its second refinancing facility of the year for $891m with 22 banks, bringing the second round of Turkish bank refis to a near end.

Bahrain Islamic Bank (BIsB) has signed its debut syndicated loan for $101m, double the initial launch amount.

Turkey’s state-owned Ziraat Bank on Monday morning took orders of $1.25bn of its second senior trade of the year.

Saudi Arabia will return to the international capital markets this year and has named leads for a triple tranche conventional bond.

Jordan was this week on the road looking to extend its bond curve out to 30 years. Its longest outstanding bond to date is due to mature in January 2027.

Türkiye İş Bankası signed a $1.1bn dual currency syndicated loan on Monday with 33 banks at a spread 10bp lower than its first loan this year in May, in line with its peers.

Emerging market loan bankers may have to look to the private sector for deals as sovereign entities in the Middle East take a step back from the loan market.

Turkish banks are continuing to attract international lenders to their loan financings. Several deals this year have had dozens of arrangers.

Oman Oil Company Exploration and Production (OOCEP) has signed a $1bn loan with 11 banks, the fifth loan to come from the state-owned Oman Oil group.

Islamic Development Bank printed $1.25bn of sukuk on Tuesday that was firmly targeted at the sovereigns, supranationals and agencies crowd despite its emerging market jurisdiction.

Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.

Türkiye İş Bankası has signed a $1.1bn dual currency syndicated loan at 10bp lower than its first loan this year in May, in line with its peers.