Middle East
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Ooredoo finally opened books for a $500m no-grow 10 year bond on Wednesday after finishing investor meetings last week. With political risks and a US interest rate meeting posing risks to market stability, lead managers are hoping for a swift execution. -
National Bank of Abu Dhabi is betting big on India’s fast growing economy having opened a branch in Mumbai. While the purchase of Royal Bank of Scotland’s Indian foreign currency corporate loan book has given momentum to its business, the firm has bigger ambitions, NBAD’s chief executive officer for India told Shruti Chaturvedi.
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Akbank is returning to the loan market for the second time this year, lining up one and three year tranches in euros and dollars.
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Abu Dhabi National Energy Company (Taqa) has released initial price guidance for a dual trancher in a choppy market, while Qatari telco Ooredoo has chosen to wait.
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Al Khaliji Finance (AKCB) made use of its newly minted EMTN programme to sell its first bond in yen on Monday, and other Middle East names could follow.
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Petroleum Development Oman (PDO) is leading a run of deals in the market from the sultanate, with the borrower said to be close to completing a loan of more than $3bn.
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Turk Eximbank has invited banks to participate in a €300m ($337m) equivalent loan. It has split the borrowing into a one year and a two year tranche.
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Oman successfully pinned down $2.5bn of funding through a dual tranche note this week, even as Saudi Arabia’s gargantuan bond creeps closer.
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Ooredoo, the Qatar telecoms company, formerly Qtel, is roadshowing a dollar benchmark via eight banks, potentially adding to increased bond supply from the country, which already stands at seven times the full year total for 2015.
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Oman has released final price guidance for its dual tranche note with order books in excess of $7bn.
