United Arab Emirates
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Dubai’s sovereign wealth fund looks set to reopen the dollar sukuk market next week following the announcement of a five day roadshow covering Asia, the Middle East and Europe. -
Dubai is close to picking banks for a $3bn loan to fund its airport expansion, according to loan officials, while flydubai is also in talks with banks. But discussion of a deal to back the emirate’s metro development plans are said to have “gone quiet” as the state seeks to avoid deal congestion.
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NMC Health, the London-listed company that claims to be the leading private sector healthcare operator in the United Arab Emirates, raised £255.4m on Wednesday in an intraday equity bookbuild.
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National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.
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Etihad Airways has issued the first ever Schuldschein for a Middle Eastern company, increasing the deal from €150m to €209m in syndication with strong demand from European and Asian commercial banks.
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A busy weekend for Chinese authorities as seven new currencies were named to be traded directly with the renminbi, the dollar fix breaks 6.9 again on Monday, and a clearing bank is appointed in Dubai.
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Middle East banks will compete for a role in the Emirate of Sharjah's loan because the deal is likely to be an attractively priced, dirham denominated deal, according to two bankers in the region.
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National Bank of Abu Dhabi has completed syndication of its $2bn loan, which was oversubscribed, and will sign it within two weeks.
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Etihad Airways on Wednesday printed its first standalone bond — a privately placed dollar sukuk — after a three day execution process, navigating difficult markets to raise $1.5bn.
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Abu Dhabi Commercial Bank increased the size of its first ever Asia focused loan from $300m to $600m in syndication, after pricing the deal generously to build relationships with new lenders.
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Abu Dhabi industrial investment company Senaat General Holding is refinancing a $500m revolving credit facility and reducing it to $400m, according to bankers close to the deal.
