Middle East

State-owned Türk Eximbank has signed a $200m three year loan facility with the China Development Bank.

Odeabank took advantage of limited supply in emerging market bonds to price a well-received Eurobond debut on Monday.

Türkiye Halk Bankasi (Halkbank), the Turkish state-owned lender, has confirmed that it plans to issue mortgage-backed covered bonds. It joins seven Turkish lenders that have rated covered bond programmes in place.

Abu Dhabi National Oil Co (Adnoc) is in talks with international and Middle Eastern banks about a syndicated loan of up to $5bn, which is understood to be very tightly priced.

The Dubai Gold and Commodities Exchange (DGCX) and its connected clearing service were granted “remote recognition status” by Abu Dhabi Global Market (ADGM) regulators on Sunday.

Turkey's Odeabank revised guidance to 7.75% area for its Basel III-compliant 10 year non-call five tier two bonds on Monday, as investors got to grips with a new credit, and anticipated return of compatriot and peer, Halkbank.

After selling a green mortgage-backed covered bond to the International Financial Corporation and the European Bank for Reconstruction and Development (EBRD), Garanti Bank expects to sell its first publicly syndicated euro benchmark.

Dominance in one of its operational markets enabled Topaz Marine to raise $375m of five year money on Wednesday despite coming from what the leads acknowledge to be a ‘tough sector.’

After selling $150m of green residential mortgage-backed covered bonds to the International Financial Corporation, Garanti Bank expects to sell another deal to the European Bank for Reconstruction and Development.

Topaz Marine was marketing the first Gulf Co-operation Council-domiciled (GCC) credit since May on Wednesday morning, but the credit is no barometer for appetite Gulf names in the wake of the Qatar crisis, said investors.

Three more Turkish banks have come to the market to refinance loans from 2016, marking the second wave of refi deals to come out of the region this year.

With a few weeks to go before asset managers begin their annual pilgrimage to the globe's beachfronts, the last few borrowers are slipping into the primary market before liquidity evaporates in the summer heat. Nostrum’s trade this week provided evidence of the slowdown in demand for risker credits.