United Arab Emirates

The Dubai Gold and Commodities Exchange is to start trading a Shanghai gold futures contract.

Abu Dhabi airline Etihad Airways has launched a Schuldschein for €150m denominated in euros and dollars, the first ever for a Middle East borrower, according to one market participant.

National Bank of Abu Dhabi is syndicating a $2bn term loan to replace bilateral loans. The UAE bank is paying more for the longer dated syndicated deal, though the latest pricing is still “aggressive”, according to one banker.

Taqa achieved tight pricing for a dual tranche dollar tap on Wednesday after starting wide due to uncertain market conditions and anticipation of imminent sovereign supply from Saudi Arabia.

Abu Dhabi National Energy Company (Taqa) emerged with pricing on Wednesday for tap of its dual tranche dollar deal from June.

Abu Dhabi Commercial Bank (ADCB), which is seeking a $300m loan from Asian lenders, is offering four participation tickets with details on the levels now available.

Abu Dhabi Commercial Bank is raising a $300m new money loan from Asian lenders to tap a previously unused source of funding.

Union National Bank of the UAE nipped into the primary market a $600m bond on Wednesday, well ahead of competing supply, paying a skinny, if any, new issue premium.

Books were nearly $2bn for the UAE's Union National Bank’s return to the markets on Wednesday With issuance from UAE banks limited thus far, the 20bp-25bp starting premium offered good value, according to one EM banker.

Renminbi adoption has surged in the United Arab Emirates while lagging behind in the Eurozone, according to the latest data by the Society for Worldwide Interbank Financial Telecommunication (Swift). The Chinese authorities also seem ready to increase RMB connectivity with the Middle East through a number of new initiatives.

Union National Bank (UNB) has announced plans to return to the dollar bond market after an absence of nearly two years.

National Bank of Abu Dhabi (NBAD) is still in talks with investors about a possible green bond, according to the lead managers, despite rumours that the planned deal will not go ahead due to disputes over pricing.