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Saudi Arabia mining firm furths relationships with international banks following a $1bn sukuk in January
First Abu Dhabi joins the syndicate for the short term loan all but equalling the size of a previous revolving facility
Absa, FirstRand and Standard Bank were MLAs in first deal after private equity exit
Omani oil company has pushed out maturity by a year
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Romanian aluminium producer, Alro, has closed syndication of the commercial bank portion of a refinancing, according to bankers close to the deal.
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Bahrain’s Gulf Finance House (GFH) secured another payment deferral and a reduction in the price of a $100m extended loan facility after the final three lending banks were persuaded to commit to the amendment.
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Standard Chartered is one of two banks advising Nigeria Liquefied Natural Gas (Nigeria LNG) as it seeks a $2bn loan for a big infrastructure project.
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Russian oil firms TNK-BP and Tatneft both tightened margins on loans out in the market this week, but both lost lenders as a result of their more aggressive approach to pricing.
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Bank of Sharjah signed a $150m one year refinancing this week, the first deal from a financial institution in the Gulf since 2008. However, with confidence throughout the Middle East loan market dispiritingly low, bankers in the region do not believe that the deal signals a widespread revival in FI loan activity in the region. Instead, banks are likely to continue to use bilateral loans and bonds when they need to raise finance.