Middle East
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Turkey’s QNB Finansbank and Garanti plan to sign their second yearly loan refinancings this week, according to bankers, marking the end of a tumultuous year for Turkish bank loans. -
Saudi Arabia's International Company for Water and Power Projects (ACWA Power) is lining up the first corporate bond from the country since the sovereign’s $17.5bn debt sale in October. The issuer has a tricky market calendar to navigate but plans to print the $1bn deal before year end, and is expected to offer a pick-up over the sovereign.
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Abu Dhabi Commercial Bank increased the size of its first ever Asia focused loan from $300m to $600m in syndication, after pricing the deal generously to build relationships with new lenders.
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Turk Telekom subsidiary Avea has signed a €90m nine year loan backed by Finnish export credit agency Finnvera, after Avea's ultimate parent company Otas failed to make a repayment on a $4.75bn loan in September.
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Abu Dhabi industrial investment company Senaat General Holding is refinancing a $500m revolving credit facility and reducing it to $400m, according to bankers close to the deal.
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The Republic of Turkey plans to raise $6bn in the international markets next year using a combination of SEC registered dollar bonds, as well as other instruments, according to debt bankers.
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The Dubai Gold and Commodities Exchange has signed up the Industrial and Commercial Bank of China as a clearing and settlement bank, which it hopes will ease its introduction of Shanghai gold futures.
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A former executive director at Goldman Sachs, with over 20 years' experience in the loan market, has become the head of corporate finance at Doha Bank in Qatar.
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Aberdeen Asset Management is beefing up its Middle East offering and has relocated two senior personnel to its first office in Abu Dhabi, which opened officially on Wednesday.
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The Nasdaq Dubai Futures Exchange has signed up National Bank of Abu Dhabi (NBAD) as a second market maker for its equity futures, after trading gained momentum in recent weeks.
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The UAE’s Ajman Bank has refinanced its Sharia-compliant loan, growing the deal to $230m in syndication.
