Middle East
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The UAE’s United Arab Bank launched general syndication for a two year $150m loan on Thursday. -
Ezdan Holding, a Qatari property company, has printed the third bond from the Middle East this week, a $500m five year sukuk.
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Turkey’s İşbank increased the size of the dollar tranche in its first annual loan refinancing, for $1.4bn equivalent.
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Quasi-state owned Petroleum Development Oman is reaching out to banks for a $3bn club loan, and asking for chunky tickets of $300m each, according to sources.
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Boubyan Bank has printed its $250m perpetual Basel III compliant tier one issue only around 100bp wide of its majority owner, National Bank of Kuwait, with books at pricing in excess of $1.3bn.
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Boubyan Bank has launched its tier one sukuk, hitting its size target of $250m and setting final pricing well inside initial price guidance.
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As the $100bn-plus IPO of Saudi Aramco nears its launch, the UK’s Telegraph has most recently hinted at a three-way foreign listing, conducted across London, New York and Hong Kong. Columnist Philippe Espinasse looks at the practicalities and advantages (as well as disadvantages) for the oil behemoth of listing in Asia.
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Boubyan Bank, an Islamic bank based in Kuwait, has released initial price thoughts for a $250m perpetual non-call five tier one bond.
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Mubadala Development Company was on track to print its $500m bond tight to its existing curve as US markets opened on Monday.
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Lenders have piled in with aggregate commitments well beyond the €1.5bn deal size for Qatar National Bank, as the lender swerved negative ratings actions against a number of Qatari banks.
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Turkiye Sinai Kalkinma Bankasi (TSKB) is preparing to open up a new market in Turkey by issuing the country’s first ever green bond against a volatile political backdrop.
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In this round-up, Hong Kong RMB deposits shrank further in March, southbound usage of the Shanghai-Hong Kong Stock Connect picked up, China's foreign exchange regulator granted four new RMB qualified foreign institutional investor (RQFII) quotas in April, and Singapore Exchange launched trading of derivatives under the new MSCI China Free Index. Plus, a recap of GlobalRMB's top stories this week.
