Middle East
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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.
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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.
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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.
