Middle East

Jordan has mandates two international banks for its second bond to come without a USAID guarantee as the sovereign places its first local currency sukuk.

Japanese technology giant SoftBank and the Public Investment Fund of Saudi Arabia have agreed to set up a UK-based technology fund for up to $100bn and have employed former bankers from Deutsche Bank and Goldman Sachs to help with the project.

Aluminium Bahrain (Alba) named on Monday the 22 banks which participated in its $1.5bn loan signed in September, a deal which the borrower described as the largest corporate loan in the country's history.

Investor meetings for Saudi Arabia’s three tranche debut began in earnest this week, but with a rumoured $60bn to issue over three years, and rising concerns about the implementation of the country's 2030 plan, some dedicated EM funds are already preparing to sit out the imminent first megabond, writes Virginia Furness.

Ojer Telekomunikasyon (Otas), the majority owner of Turk Telekom, failed to make a $290m payment on a $4.75bn loan which was signed in September 2013, according to a news report on Wednesday. But two bankers were quick to say that Otas's fate was not indicative of all Turkish borrowers.

Taqa achieved tight pricing for a dual tranche dollar tap on Wednesday after starting wide due to uncertain market conditions and anticipation of imminent sovereign supply from Saudi Arabia.

Ahli United Bank’s Kuwait arm will be looking to issue a tier one dollar sukuk after wrapping up investor meetings on Monday, according to bankers involved in the process.

Abu Dhabi National Energy Company (Taqa) emerged with pricing on Wednesday for tap of its dual tranche dollar deal from June.

Some eight banks that arranged Saudi Arabia’s $10bn loan in May have secured berths on the sovereign's bond extravaganza that is due to kick off this week.

Saudi Arabia is lining up to meet investors for its long awaited mega-bond debut — a triple-tranche five, 10 and 30 year dollar issue — and a furious pricing debate has begun.

Abu Dhabi Commercial Bank (ADCB), which is seeking a $300m loan from Asian lenders, is offering four participation tickets with details on the levels now available.

Abu Dhabi Commercial Bank is raising a $300m new money loan from Asian lenders to tap a previously unused source of funding.