Middle East
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Turkey’s Garanti Bank will sign its second loan refinancing of the year in London on Friday, according to a lead banker. -
The International Islamic Financial Market has teamed up with the International Swaps and Derivatives Association to publish launch an Islamic cross currency swap standard.
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Albaraka Turk Katilim Bankasi (Albaraka Turk) priced Turkey’s first Basel III compliant tier two sukuk deal in line with guidance on Monday.
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Turkey shot down a Russian warplane on Tuesday morning near its border with Syria. The response to the attack in the bond market has been muted.
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Emirates Global Aluminium launched syndication on Tuesday for a $4.9bn seven year loan facility, comprising both conventional and Islamic financing, to refinance existing loans.
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Turk Telekom has agreed an $826m-equivalent loan with banks to refinance debt and provide working capital.
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Albaraka Turk Katilim Bankasi (Albaraka Turk) opened the pricing for an innovative tier two sukuk deal on Monday morning with initial thoughts of 10.5% area.
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Finansbank has picked banks for a senior dollar benchmark that would be the first in the format from a Turkish bank since April.
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In this round-up, new RMB mini metals contracts coming on HKEx, Singapore Exchange and EBS to launch CNH block futures, Turkey renewed its RMB swap line, and Morgan Stanley said one of its funds will start trading via the Shanghai-Hong Kong Stock Connect link.
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Another week, another couple of difficult Middle East deals for the CEEMEA market. Bahrain and International Bank of Qatar hit the sizes they wanted but found that pricing stuck stubbornly at initial price thoughts, with international investors beginning to close up shop for 2015.
