Saudi Arabia

Saudi Arabia has secured its inaugural green loan backed by an export credit agency (ECA). The deal, which is the first of its kind in the region, may have a domino effect on other sovereigns in the Gulf, said bankers.

Arab Petroleum Investment Corp (Apicorp) repriced its curve on Wednesday, printing a five year new issue 20bp inside where its outstanding 2023 notes had been trading.

Arab Petroleum Investment Corp (Apicorp) was in the market on Tuesday for a five year benchmark bond, having mandated for the deal in April.

Saudi Aramco, the world's largest oil company, has finalised its acquisition of Saudi chemicals company Sabic in a $70bn transaction. The final amount plus loan fees is set to be paid to the former owner, the Public Investment Fund (PIF), over eight years.

Saudi Arabia real estate financing company Amlak has announced the first IPO on the Tadawul stock exchange since the onset of the global Covid-19 pandemic.

Saudi Arabia is set to raise its inaugural green loan with export credit agencies next month. The groundbreaking loan would be the first of its kind in the Middle East.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.

Saudi Aramco, the world’s largest oil company, is hunting for a $10bn loan, according to market sources. Plummeting oil prices will send borrowers across the Gulf scrambling to raise financing. But creditors seem happy to plough money into the region, for now. Mariam Meskin reports.

Saudi Arabia followed neighbours Abu Dhabi and Qatar to the international bond markets on Wednesday, achieving a $7bn deal that was nearly eight times subscribed.

Saudi Aramco’s IPO last year was a historic event for the company and its owner, Saudi Arabia, but despite a record $29.4bn being raised at IPO, international investors stayed away. They had demanded that the shares offered a discount to other listed oil majors, in part because of the political risk associated with the company. The fact it is now a tool in Saudi Arabia’s oil price war with Russia will have vindicated many in their decision to sit out the deal.

Emerging markets bondholders started the week in another round of pain as the price of oil fell to a 17-year low, dragging down risk sentiment and putting fiscal balances into more doubt.

Saudi Arabian fashion retailer Fawaz Abdulaziz Alhokair has raised an $800m multi-currency loan with a consortium of local lenders.