Middle East
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Emerging market bond prices have begun to stabilise following the recent rout. The brief spell of stability before Thursday's Thanksgiving holiday in the US will come as welcome relief to the three issuers in the market on Wednesday. -
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.
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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.
