Middle East

National Bank of Abu Dhabi has raised $75m with a trio of private floating rate medium term notes, printing at its shortest maturity yet in the format, and more in such maturities could follow from banks in the region.

Abi Dhabi Commercial Bank has released initial price thoughts equating to a 20bp new issue premium for its bond deal, according to a lead.

The Loan Ranger's trusty companion Silver travelled to the Middle East to learn about the ways of Arabian stallions and the local market, but returned with tales of strange greeting rituals.

Turkcell has mandated BNP Paribas, Citi and HSBC for a debut dollar bond and is set to meet investors in the US and Europe next week ahead of the deal.

In an unexpected move, Dubai Islamic Bank (DIB) pulled out of Albaraka Türk’s latest $450m murabaha loan because it did not think the loan was Shariah-compliant, according to bankers on the deal.

Etihad Airways and five other airlines in which it owns stakes, printed an innovative $500m structured bond on Wednesday and bumped it up to $700m a day later on the back of a late reverse enquiry.

Etihad Airways has tapped the $500m structured bond it sold on Wednesday for a further $200m. Despite this, the bonds have staying buoyant at around 101.25 bid.

Garanti Bankasi has signed a $150m three year loan, only the second three-year deal in Turkey since 2006 after Akbank’s deal in July.

A measure of calm is returning to energy commodity markets after a series of wild weeks, but implied volatility measures remain heightened across the sector.

Persian Gulf equity markets have so far failed to win a boost from last year’s inclusion of the United Arab Emirates and Qatar into the world’s main emerging market index, as well as the more recent opening up of the Saudi Exchange to foreign investors, market participants have said.

Etihad Airways printed its innovative $500m structured bond on Wednesday. It pulled in pricing from guidance but opted for the lower end of the $500m-$750m size range the company was targeting.

Turkey's Vakifbank and Isbank have secured the same 75bp all-in costs as Akbank's recent deal for their annual trade finance loans.