Middle East
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Ooredoo, one of the largest telecommunications firms in the Middle East and Africa, is refinancing a $1bn three year revolving credit facility, according to two bankers. -
Turkiye IS Bankasi’s consent solicitation — aimed at converting its disqualified tier two bond into a Basel III compliant instrument — has angered some investors, who feel Isbank is offering too little. But the bank is right to strong-arm investors who were aware of the risks they were taking when they bought the deal.
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DP World, one of the world’s largest port operators, has mandated nine banks for a dollar sukuk and is looking to price the deal next week.
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Qatar has mandated banks for a dollar senior unsecured bond, which bankers away from the note are expecting to be as large as $5bn in total.
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Emirates NBD is close to finalising a loan of $1.25bn or more, according to two sources at the bank.
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The head of loan syndications at Emirates NBD Capital, the investment banking arm of Emirates NBD, has left the bank.
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Investor appetite for UAE corporate debt was unfulfilled when Mubadala printed $500m from a $5.1bn book last week but with Etihad Airways lining up a dollar trade, investors may have a second chance to buy.
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Noor Bank has mandated banks for its debut Basel III bond and will be looking to soak up excess demand for additional tier one (AT1) debt after Boubyan Bank’s note was over five times subscribed last week.
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Turkiye IS Bankasi is offering investors in its disqualified tier two bond 50bp to agree to add Basel III compliant features to the documentation.
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The first publicly sold green bond from the CEEMEA region received such a strong reception this week that other borrowers may now take a closer look at the product, despite the EM pipeline for this kind of deal being bare. Francesca Young reports.
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The $3bn inaugural loan for Petroleum Development Oman will be the first of many, as the country’s sovereign and corporates head to international debt markets, according to market participants.
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United Arab Bank — Isbank — LSL Property — Nokian
