Middle East
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Oman released initial price thoughts on Wednesday morning for new five and 10 year notes and evidence suggests the deal was building well. -
Export Credit Bank of Turkey is raising a €300m-equivalent loan from Asian lenders that includes a three year tranche, according to bankers. It is the first time the bank has sought such a long tenor since 2006.
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Abu Dhabi National Energy Company (Taqa) is embarking on a roadshow for a new dollar senior unsecured bond through six banks.
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Commercial Bank of Qatar shrugged off signs of fatigue after $24bn of GCC supply this year to print a $750m five year on Monday.
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The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association have added to the number of Shariah compliant hedging tools available to investors with two standards for Islamic forward foreign exchange products.
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Competition is becoming much fiercer in the Turkish banking sector. After years of rampant loan growth in many markets, banks will have to fight much harder to find new customers and bigger margins in the future.
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Commercial Bank of Qatar is on track to print a new five year deal as bankers question whether the market is showing signs of too much supply.
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Turkish banks Halkbank and Turkiye Sinai Kalkinma Bankasi are refinancing one year loans and offering a premium to lenders committing in dollars.
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The wave of rights issues and capital raisings in the market this summer is so far going smoothly, with good news this week for Banco Popular Español, as its shares and rights perked up in trading.
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Abu Dhabi's Mubadala has tightened the margin on its $1.75bn three year refinancing, despite the price on the original loan already being “eye-wateringly low”, according to one banker.
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Investors piled over $4bn into Republic of Turkey’s latest sukuk offering on Wednesday, following a cabinet reshuffle on May 22 which the market took as a positive signal amid the increasingly authoritarian rule of president Recep Tayyip Erdogan.
