Middle East
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Emirates Global Aluminium (EGA) is wrapping up syndication for a $4.9bn seven year loan facility and will close the deal before the end of the year, according to a banker with knowledge of the deal. -
Banks are arranging a loan of around $3bn for Oman Oil Refineries and Petroleum Industries Company (Orpic) to build the $4.5bn petrochemicals complex called Liwa Plastics Industries.
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South Korean construction firm SK Engineering & Construction Co has signed a $100m loan for general corporate purposes from three Middle Eastern banks.
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The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.
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Qatar's Doha Bank signed a $575m two year loan on Thursday, increasing the deal from the launch size of $500m.
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Commercial Bank of Qatar signed its $1bn loan refinancing on Wednesday, increasing the deal from $800m in syndication. However, bankers said it was fortunate to have got the deal done before Middle Eastern loan margins rise.
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Kuwait petrochemicals firm Equate has delayed signing $6bn of loans until next week because the firm’s board members are still waiting on approvals, said bankers.
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Arrangers have not set a closing date for the $1bn loan for the Sultanate of Oman, on which pricing has been widened recently, but bankers hope to close the deal before year end.
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Commercial Bank of Qatar has signed its $1bn loan refinancing and increased the deal from $800m in syndication, but bankers said it was fortunate to have got the deal done in time before Middle Eastern loan margins rise.
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Qatar National Bank priced its first Australian dollar deal on Tuesday.
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The Sultanate of Oman has widened the pricing of its $1bn loan by 10bp to encourage banks to lend, after the sovereign was downgraded by Standard & Poor's in November.
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Vivalto Santé, the French private health service provider, has announced €228m of loans for its leveraged buyout by Mubadala Development Co, the Abu Dhabi Government owned investment and development company.
