Middle East
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Many loans bankers focused on Central and Eastern Europe have pinned their hopes on Turkey as a source for deal flow this year, as Russia remains thwarted, but it will not bring the hidden treasures bankers expect. -
Saudi Aramco and China Petrochemical Corp (Sinopec) are in talks for a new money loan for the Yanbu Aramco Sinopec Refining Co (Yasref), according to bankers.
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BankDhofar of Oman has followed the recent rush of Middle Eastern banks to the loan market for funding and signed a $250m three year club loan with six banks.
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Oman Telecommunications has mandated three banks to arrange investor meetings for a Reg S only dollar and/or Omani rial sukuk.
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Saudi Arabia gave equity capital market bankers hungry for mega-deals something to look forward to on an otherwise bleak midwinter day of trading on Thursday, as its deputy crown prince touted the idea of a sale of Saudi Aramco shares.
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Saudi Electricity Company (SEC) has completed a Sr7.75bn ($2bn) package of loans by signing a $1.4bn three year revolving credit facility in London this week.
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Lenders are piling into a $4bn project loan for Oman's Liwa Plastics Industries, lured in by a juicy margin of around 250bp, according to a banker involved in the deal.
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Turkey's banking regulator has increased the pressure on the country's banks to print new style subordinated bonds.
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Sharjah has become the first CEEMEA issuer to brave the bond markets this year, mandating six banks for a Reg S-only dollar sukuk roadshow and defying sceptics who said earlier this week that Middle East issuance would be postponed as geopolitical tensions in the region escalated.
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Low oil prices and the absence of its biggest lender will see the global sukuk market shrink further in 2016 though a couple of brand new issuers are expected, according to Standard & Poor’s.
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Oman is finalising a $1bn sovereign loan and could sign as early as tomorrow (Thursday), according to a banker on the deal.
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Options traders took Monday's oil volatility seriously, sending prices for near-dated contracts to some of the highest levels of recent months.
