Middle East
-
Turkish mobile phone operator Turkcell has released price guidance for a 10 year dollar bond at 6.25% yield area, having waited a fortnight for the right opportunity to print its debut trade.
-
Turkey’s Yapi Kredi Bank has named the 38 lenders in its latest $1.2bn-equivalent one year loan. -
Qatari real estate firm Ezdan has signed a $500m Islamic finance loan with Mashreqbank acting as sole lead.
-
Société Générale has appointed Antoine Toussaint as chief country officer and CEO of its Saudi Arabia subsidiary.
-
Abu Dhabi Water & Electricity Authority (Adwea) is planning an international dollar project bond, which could be the first such deal from CEEMEA since 2013.
-
The Government of the Sultanate of Oman, has mandated banks for its Omani rial sukuk, which is expected to be a precursor to an international sukuk.
-
Turkey’s Yapı Kredi Bank has signed a $1.2bn-equivalent one year loan, leaving only Garanti left to come in the refinancing cycle for large Turkish banks.
-
Bahrain is planning a dual tranche international bond deal, according to bankers that have seen the Kingdom’s request for proposals (RFP).
-
Turkcell will add to a busy September of funding by signing up to €1.25bn of loans with the China Development Bank in the next few days.
-
United Arab Bank has completed and signed a $125m three year loan with a syndicate of six banks.
-
Abu Dhabi Commerical Bank — an A-rated CEEMEA stalwart — pulled a dollar bond mid-way through execution on Monday afternoon, leaving bankers and buyers questioning whether Middle East liquidity could be much weaker than they had thought.
-
Rival debt bankers like to pounce on pulled deals like coyotes on wounded possums. But emerging market syndicate officials would do well to look beyond the opportunity for point scoring to what Abu Dhabi Commercial Bank’s abortive trade really indicates about Middle East liquidity.
