MUFG

Four European lenders have turned down a $2bn loan for National Bank of Abu Dhabi (NBAD), while local banks are starting to return to secondary markets for the first time in a year — signs that the Middle Eastern loan market could see a different set of banks driving it in 2017. Elly Whittaker reports.

National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.

Bank Negara Indonesia is wrapping up a $750m borrowing with nine mandated lead arrangers and bookrunners, returning to the loan market after a two year break. As liquidity is still abundant, the borrower is raising its biggest syndicated deal, with bankers saying that government backed names from the country will remain popular. Shruti Chaturvedi reports.

Nine banks have banded together to arrange a $750m dual tranche facility for Bank Negara Indonesia (BNI).

Five lenders have joined HSBC at the top level of Saudi British Bank’s (SABB’s) $450m syndicated loan, the bank’s first dollar deal from international lenders.

A dual currency acquisition financing for Indian company Intas Pharmaceuticals’ purchase of a portfolio of assets in the UK and Ireland, was launched into senior syndication last week. The trade offers banks two titles, including that of mandated lead arranger and bookrunner.

Bank of Tokyo-Mitsubishi UFJ (BTMU) has named Vivian Sam as assistant general manager of event finance at its Asian investment banking division (AIBD), in a new role for the former Citi acquisition finance banker.

Severn Trent issued the first corporate deal for a month into the sterling market bond market on Monday as it tapped investors for a 15 year transaction.

African Export-Import Bank (Afreximbank) started signing banks to join its third syndicated loan of the year this week. African multilateral banks have raised more in syndicated loans in 2016 than in any other year, according to Dealogic.

State Bank of India has zeroed in on six lenders for a $600m financing. Although the mandate has been firmed up, general syndication will likely launch next year, said a banker close to the deal.

Therma Power, part of Philippine company Aboitiz Power Corp, is accessing the offshore loan market for a $650m unsecured financing.

Bank Muscat is preparing to refinance a $600m loan maturing in April next year and will likely aim to raise the same amount with its new facility, said one banker.