Middle East

Details of the new look National Bank of Abu Dhabi emerged this week including plans to divide the merged bank’s corporate and investment banking division into six reporting lines.

Dubai Islamic Bank had taken orders of over $2.2bn by lunchtime on Tuesdayto launch the first financial sukuk from the Middle East of 2017.

Ahli Bank Qatar will hit the road next week for a five year senior bond, as issuance from Middle Eastern banks ramps up.

Dubai is closing in on loans of as much as $3bn to fund its airport expansion, but bankers have said that pricing remains an area of negotiation.

Albaraka Turk received a boost to its capital after investors voted to update its old-style tier two sukuk as Fitch junked 18 Turkish banks on Friday.

Chinese markets are back, with previous interventions by the regulators still paying off in the offshore RMB spot markets, while Dubai's exchange saw growing interest in RMB futures contracts in January 2017.

Loan bankers are demanding clarity on the true ownership of the 19.5% stake in Rosneft privatised at the end of last year, as Intesa Sanpaolo prepares to syndicate the €5.2bn loan it has provided to back the deal, write Dan Alderson and Jon Hay.

Sukuk supply looks set to step up in the first half of February, after two Gulf borrowers this week announced plans for roadshows ahead of potential dollar deals in the format.

Akbank made a bullish return to the international syndicated loan market this week, going beyond its usual one year tenor refinancing, despite the recent difficulties Turkish borrowers have faced in obtaining longer dated loans. But the deal confirms that pricing levels have changed markedly in the past six months, said bankers.

Sukuk supply looks set to step up next week after Dubai Islamic Bank became the second borrower in two days to announce plans to meet investors ahead of a potential dollar deal in the format.

Akbank has made a bullish return to the international syndicated loan market, going beyond its usual one year tenor refinancing, despite the difficulties Turkish borrowers have had recently in obtaining longer dated loans. But the deal confirms that pricing levels have changed markedly in the past six months, said bankers.

Even with much of Asia inactive due to the Chinese New Year holiday, emerging market bonds seemed a more nervous market this week with only one issuer braving a deal.