Saudi Arabia

Mizuho Bank has hired a senior banker to run its Saudi office as it looks to develop its business in financing and advisory work.

Saudi Arabian Mining's (Ma’aden) subsidiary Ma’aden Aluminium has signed a $1.78bn syndicated loan to refinance a facility signed seven years ago.

Saudi Arabian Mining Co or Ma’aden, Saudi’s largest mining company, has amended a revolving credit facility that was due to mature at the end of the month.

Citigroup has hired Majed Al-Hassoun to spearhead the relaunch of its investment banking effort in Saudi Arabia.

Saudi Aramco’s jumbo IPO is taxiing towards take off, though the timing and any co-listing locations along with Riyadh have yet to be revealed. London and New York’s exchanges are eager to host a co-listing, with Toronto, Hong Kong and Singapore also in the frame for what promises to be the biggest ever IPO, valuing the company at $2tr.

Saudi Arabian asset prices failed to bounce back this week after last weekend’s high profile arrests, even though wider emerging markets staged a late recovery.

Emirates NBD’s recent new issue has recovered some of the losses reported on Wednesday, though still remains below reoffer as emerging market debt bounces back after a tough couple of days.

Saudi asset prices dropped on Monday after the arrest of senior officials on Saturday caught the market off guard, prompting a 2.2% fall in the Tadawul index and leaving investors nervously awaiting further developments.

Saudi Electricity Co’s $1.75bn loan has been successfully sold down to four other banks.

Dubai Aerospace Enterprise (DAE) Capital has financed an Airbus A320-200 aircraft for Saudi Arabian Airlines’ low-cost carrier ‘flyadeal’ with a loan from Bank ABC.

Shares in Hapag-Lloyd, the German container shipping line, are holding up well as the subscription period for its €352m rights issue begins.

Intercontinental Exchange (ICE), an operator of exchanges and clearing houses, on Monday announced clearing services for CDS referencing Saudi Arabia, as well as for a host of emerging market and Asia-Pacific corporate single names.