Middle East

Saudi Electricity’s $1.75bn loan, which was signed on August 16, is being syndicated out by the eight lead banks on the deal.

South African lenders, Investec and Standard Bank’s loans are due to sign this week, along with United Biscuits' acquisition loan, which is expected to close tomorrow.

Saudi Arabia considers issuing its first Panda bond, Ministry of Finance (MoF) plans to roll over Rmb600bn ($90.1bn) of debt by issuing special treasury bonds, and the Chinese premier piles pressure on state-owned enterprises (SOEs) directly owned by the State Council to deleverage more rapidly.

Oman Oil’s subsidiary, Oman Oil Company Exploration and Production (OOCEP), is to resurrect a structure for its latest loan that could help other borrowers from the sultanate to access capital markets as the country loads up on debt, writes Bianca Boorer.

Two Eurobonds issued by EA Partners were still stuck trading around 85-87 this week after Air Berlin's insolvency, announced last week, with investors left waiting for more information from the issuer.

Bankers are expecting $5bn-$7bn of supply from Gulf corporates in the second half of this year, as funding officials rush to lock in financing before an expected rate rise by the US Federal Reserve in December.

Oman Oil’s subsidiary, Oman Oil Company Exploration and Production (OOCEP), is to resurrect a structure for its latest loan that could help other borrowers from the sultanate to access capital markets as the country loads up on debt.

Kuwait’s Warba Bank is in talks with lenders about making its debut into the loan market with a $200m Islamic facility, the second Islamic bank to launch its first deal this year.

Majan Electricity, a subsidiary of Electricity Holding Co (EHC), has kick-started the syndication of a $165m facility as part of its parent company’s overall plan to raise $2bn across its subsidiaries.

Goldman Sachs has appointed a new head of investment banking in Saudi Arabia, after receiving approval from the country's Capital Markets Authority to trade equities there on Sunday.

Two Eurobonds issued by EA Partners were still stuck trading around 85-87 on Tuesday after Air Berlin announced its insolvency last week with investors leftwaiting for further announcements from the issuer.

Kuwait’s Burgan Bank’s Turkish branch, Burgan Bank AS, signed a dual tranche facility of around $205m from 14 banks, at slightly higher pricing than its top tier compatriots.