Middle East

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.

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.

Bahrain-based Bank ABC is beefing up its capital markets business and has made two senior hires from Standard Chartered and First Gulf Bank.

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.

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.

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.

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.

Akbank is returning to the loan market for the second time this year, lining up one and three year tranches in euros and dollars.

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.

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.

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.