Middle East

Qatar National Bank will increase its loan from €1.5bn to €2.25bn, according to a banker close to the deal and top tickets receive all-in pricing of 126.7bp, according to a second banker.

High profile sovereign bonds have dominated CEEMEA markets so far this week. Russia returned on Tuesday with its first deal since 2013, but not with the international slam-dunk the sovereign was hoping for. Elsewhere Qatar started book building for its long-awaited bond.

Petroleum Development Oman is bringing in more banks after first launching its debut loan as a club deal with a small group of lenders.

Noor Bank made its additional tier one (AT1) debut on Tuesday, raising $500m with a perpetual sukuk.

Omani electricity firm Majan Electricity Company has secured a $350m loan, according to two bankers, and sister company Dhofar Power Company is close behind with another deal.

Bank Muscat signed its $315m club loan late on Monday and all, barring one, of the lenders also arranged the bank’s bond issue last month.

DP World was on track to print a new seven year sukuk on Tuesday morning after receiving over $1bn of valid tenders for its existing $1.5bn 2017 sukuk.

A $100m three year loan for Doha Bank has launched into syndication with Mega International Commercial Bank as sole mandated lead arranger and bookrunner.

Emirates Islamic saw strong demand for its first guarantee-free sukuk on Monday. So keen were investors to get hold of the paper, that the issuer increased the size of the deal by $250m.

Noor Bank is book building for a five year additional tier one sukuk which is expected as to be Tuesday's business as the market recovers from a US Federal Open Markets Committee-related spook.

Etihad Air Partners was on Monday talking a new five year deal at pricing inside where it printed a similarly structured bond last September. The deal is expected to be printed as early as this week.

Oman’s Bank Muscat is in the process of signing a club loan of about $300m, according to one banker who was invited to join.