United Arab Emirates

Dubai Islamic Bank priced the year’s first public bond from a Gulf Co-operation Council financial borrower tight to its existing curve on Tuesday thanks to strong demand from regional investors.

Aabar Investments has signed a €3.6bn loan facility to repay other debt and reduce borrowing costs, with a targeted syndication set to follow.

Dubai Islamic Bank emerged with the year’s first public deal from a Gulf Co-operation Council financial borrower on Tuesday morning.

Dubai Islamic Bank is embarking on a roadshow for a senior dollar sukuk, and looks likely to be the first bank from the Gulf Cooperation Council to enter the public bond markets this year.

Dubai Holding cancelled an opportunistic buyback of its 2017 bonds after bondholders asked for asked for too high a cash price, according to a banker on the deal.

Aster DM Healthcare is close to sealing a $280m multi-tranche syndicated loan, with three or four lenders already committing to the deal.

KOKS Finance and Dubai Holding are looking to buy back part or all of their dollar notes due 2016 and 2017, respectively.

This week Sharjah Islamic Bank (SIB) launched its $200m murabaha loan, which offers all-in pricing of 240bp for top tier banks — welcome fodder for regional lenders, which face growing funding costs.

Sharjah Islamic Bank (SIB) will pay a margin of 165bp for its $200m murabaha loan, which should launch syndication early next week, according to a banker on the deal.

Emirates Global Aluminium has completed its $4.9bn loan refinancing, with eight lenders joining the underwriting banks, as this week the borrower announced its income had almost halved last year.

The Islamic Development Bank is embarking on a three day sukuk roadshow, starting on Sunday.

Sharjah Islamic Bank (SIB) is raising a murabaha loan which was launched at $200m but will grow far beyond that size, according to a banker on the deal.