Saudi Arabia

Saudi Electricity Company (SEC) signed a Sr5bn ($1.3bn) Islamic loan this week, having already secured $3.8bn in dollar loans this year.

Saudi British Bank (SABB) has completed its first dollar denominated syndicated loan, according to one banker, as the country's borrowers increasingly turn to international debt markets.

Abundant oil reserves transform a country’s economy. The results are not always positive — some sovereigns suffer from the “Dutch Disease”, which inhibits exports of non-oil goods through an appreciation in the real exchange rate. But overall natural resources, in particular oil and gas, prove to be a boon for the lucky country’s finances.

Foreign investors will be allowed to participate in Saudi Arabian IPOs from January, the country’s regulator said on Thursday in a move that has been signalled for some time but was nevertheless warmly welcomed by bankers.

Mobile Telecommunications Company Saudi Arabia (Zain) has refinanced a syndicated loan it signed in June for a cheaper, longer dated bilateral deal from ICBC.

The Saudi British Bank (SABB) is syndicating a rare dollar loan co-ordinated by its 40% owner, HSBC. The loan is for $400m, one banker said.

Saudi Arabia could still print its widely anticipated bond in July, according to several EM syndicate bankers.

The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association have added to the number of Shariah compliant hedging tools available to investors with two standards for Islamic forward foreign exchange products.

Saudi Arabia has released a request for proposals for its much anticipated international bond. GlobalCapital has details.

As the $100bn-plus IPO of Saudi Aramco nears its launch, the UK’s Telegraph has most recently hinted at a three-way foreign listing, conducted across London, New York and Hong Kong. Columnist Philippe Espinasse looks at the practicalities and advantages (as well as disadvantages) for the oil behemoth of listing in Asia.

Saudi Arabia signed a $10bn loan with its relationship banks this week, according to one lead banker, and secured the price of a three year loan with a guarantee of five year money, according to three bankers.

Saudi Arabia will sign its $10bn sovereign loan on Wednesday, according to a lead banker, and the tenor is shorter than many think, according to two other sources.