United Arab Emirates
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The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota. -
Vivalto Santé, the French private health service provider, has announced €228m of loans for its leveraged buyout by Mubadala Development Co, the Abu Dhabi Government owned investment and development company.
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Abu Dhabi based Gulf Marine Services (GMS) has signed a $620m loan refinancing and lowered the cost of the loans.
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The Dubai Gold and Commodities Exchange (DGCX) is set to launch trading of offshore RMB (CNH) futures contracts on December 18. The exchange is looking to leverage the RMB’s new-found status as an SDR currency, it told GlobalRMB.
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Emirates Global Aluminium launched syndication on Tuesday for a $4.9bn seven year loan facility, comprising both conventional and Islamic financing, to refinance existing loans.
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The fate of three Middle East mandates this week spoke volumes about the state of that market, as issuers chase dwindling liquidity into the last weeks of 2016.
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National Bank of Oman has set initial price thoughts on a tier one perpetual note. Commercial Bank of Dubai’s new $400m five year senior deal, meanwhile, was down in the secondary market on Wednesday, but investors said the slide was down to wider market weakness.
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Commercial Bank of Dubai is settling for a smaller print and wider spread than originally indicated on its latest five year dollar bond, according to rival bankers and buyers.
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Commercial Bank of Dubai has released initial price thoughts for a five year dollar benchmark at mid-to low 200bp over mid-swaps.
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The Ranger went on the hunt for meditating bankers and found that each in the market has their own definition of inner peace.
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The Commercial Bank of Dubai has mandated six banks to arrange a Reg S dollar benchmark bond, and is starting the roadshow for the deal on Thursday.
