Middle East
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ING Bank Turkey has signed a 367 day loan facility with a group of 26 lenders, joining Turk Eximbank and TSKB in issuing loans. -
Emerging market bond bankers are already looking beyond Brexit as super-tight spreads in central and eastern Europe, caused by a Remain-led rally, make issuance levels look attractive.
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Emerging market credit has ridden the uncertainties of the UK’s European referendum this week and made considerable gains on Monday and Tuesday as support for Remain edged ahead in polls.
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Doha Bank has fully exercised an $80m greenshoe option on its Taiwan targeted syndicated loan, increasing its size to $180m.
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Securities in National Bank of Abu Dhabi and First Gulf Bank shot up on Monday morning in reaction to the prospective merger of the two Middle East banks. The creation of a "national champion" would be a positive for the market, said bankers in the region.
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Covered bonds, green bonds, tier twos and senior — Turkish issuers have turned this year of lower funding needs into a meze platter of unusual and groundbreaking bonds. Francesca Young reports.
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Akbank has outlined plans to broaden the reach of Turkish banks among Asian lenders beyond Japan and improve awareness of longer tenors, as it returns to the loan market for the second time this year.
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Ooredoo executed a swift deal to snap up $500m ahead of the US Federal Reserve's interest rate meeting on Wednesday, printing inside its curve as demand for Middle East credits defied weak markets.
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Bahrain-based Bank ABC is beefing up its capital markets business and has made two senior hires from Standard Chartered and First Gulf Bank.
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Turkish banks are looking to mortgage-backed covered bonds to close asset and liability mismatches and reduce borrowing costs. In the next few years, the asset class will become a cornerstone of their funding plans.
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National Bank of Abu Dhabi is betting big on India’s fast growing economy, after opening a branch in Mumbai last November. The bank has ambitious plans for south Asia, its chief executive for India told GlobalCapital Asia recently.
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Abu Dhabi’s national energy company Taqa printed a $1bn dual tranche note in a market marred by Brexit concerns on Tuesday but bankers on the deal said the strength and rarity of the credit enabled it to transcend the weaker tone to print a strong trade.
