Middle East
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Ahli Bank Qatar (IBQ) has released initial price guidance for its debut bond, a Reg S dollar benchmark, at 275bp area over mid-swaps. -
Bankers were predicting a return of senior Turkish financial supply after Isbank achieved nearly four times oversubscription for its market reopener on Wednesday.
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Isbank reopened the senior market for Turkish financials in style on Wednesday with an oversubscribed deal that was priced tight to the issuer’s existing curve.
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HSBC has promoted from within to head its wholesale banking business in Turkey.
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Isbank emerged on Wednesday with the first senior deal from a Turkish financial borrower since last April.
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A $400m loan for Turkish industrial holding company Borusan is very near completion. The deal is a rare Turkish corporate syndicated loan but many of the lenders are still domestic banks, according to one banker.
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Ahli Bank Qatar is embarking on a series of investor meetings for its debut bond, a Reg S dollar benchmark.
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Two Turkish banks have closed loan refinancing deals, both exhibiting a reduced demand from banks for dollar tranches, despite the financial institutions paying up an additional 10bp compared to euros.
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Dubai Islamic Bank priced the year’s first public bond from a Gulf Co-operation Council financial borrower tight to its existing curve on Tuesday thanks to strong demand from regional investors.
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Strong demand from yield starved eurozone investors has triggered a flurry of MTNs from Middle-East issuers.
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Aabar Investments has signed a €3.6bn loan facility to repay other debt and reduce borrowing costs, with a targeted syndication set to follow.
