Middle East
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Yapi Kredi Bankasi opened books on a seven year note on Tuesday morning, offering a 20bp premium at initial price thoughts. -
Majid Al Futtaim (MAF) printed a $300m opportunistic tap of its May 2024s on Monday to re-open the Gulf Corporation Council bond market after Ramadan.
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With the Republic of Macedonia on the road for the first euro-denominated bond from an emerging market issuer since Brexit and EM credit continuing to rally, bankers are expecting a strong few weeks pre-summer.
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Kuwait has joined the roster of Gulf Co-operation Council (GCC) sovereigns looking for international financing to help plug increasing fiscal deficits, but while DCM bankers are in no doubt an issue would be met with strong demand, the sovereign has plenty of work to do before coming to market.
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Oman Shipping Company is syndicating an underwritten loan, after other state-owned Oman firms PDO and Dhofar Power Company wrapped up deals in recent weeks.
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Turk Eximbank, which sent out invitations for a €300m ($337m) equivalent loan in early June, has extended the deadline for responses, according to a source.
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Kuwait’s Equate bargained hard on the terms of its latest $5bn bridge loan refinancing, bankers said, and the syndicate for the latest loan shrunk as some lenders passed on the deal.
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Kuwait's Burgan Bank has picked five banks to manage its senior bond offering after establishing a new EMTN programme on Sunday.
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Kuwait's Burgan Bank established a new EMTN programme on Sunday which has taken it one step closer to issuing in senior format.
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Turkey’s Halkbank signed a $705m-equivalent annual loan refinancing on Monday morning after issuing a benchmark bond last week to strong demand.
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Turkey's state-owned Halkbank on Thursday printed the first CEEMEA bond since the UK's Brexit vote threw EM into a brief bout of chaos last week and in defiance of terror attacks in Istanbul.
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