Bahrain
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Aluminium Bahrain (Alba) confirmed on Thursday that its loan had doubled in size, while also revealing the pricing. -
Aluminium Bahrain (Alba) has increased the size of its seven year loan from $750m to $1.5bn after strong demand in syndication, said one banker on the deal.
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The loan for Aluminium Bahrain (Alba), which is expected to grow beyond its initial target of $750m, is due to be signed on Wednesday.
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Bahrain has picked five banks to arrange its next Eurobond. With one of those banks also linked to a Saudi Arabia mandate, the deals are expected to be timed to avoid collision.
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Sovereign mandates are starting to trickle through in CEEMEA as borrowers ready themselves for September. Bahrain has picked five banks to manage a dollar transaction and the market is waiting for updates from Egypt and Nigeria.
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Bahrain has picked five banks to arrange its next Eurobond. With one of those banks also linked to the Saudi Arabia mandate, the deals are expected to be timed to avoid collision.
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Aluminium Bahrain (Alba) is finalising its seven year loan this week and will increase the deal beyond the $750m starting size after enjoying a strong oversubscription.
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Omani borrowers have lit up the loan market with deals this year but Bahrain — another country vulnerable to oil price shocks — has seen little deal flow. Two large dollar deals for Bahraini borrowers in recent weeks, however, have shown the country is back in the fray.
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Bahrain-based Bank ABC is beefing up its capital markets business and has made two senior hires from Standard Chartered and First Gulf Bank.
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The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association have added to the number of Shariah compliant hedging tools available to investors with two standards for Islamic forward foreign exchange products.
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Bahrain’s decision to revive last week's cancelled bond sale was driven by reverse enquiry from investors who were unperturbed by the issuer’s new junk status, according to bankers on the deal.
