Middle East Loans
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Qatar National Bank has launched a $3bn loan with nine banks underwriting the facility. -
Qatar’s Doha Bank extended a $575m loan that was scheduled to mature at the end of last year but it did not extend the whole amount as the deal's Chinese lenders pulled out.
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Nomura has hired Nihal Elkafrawi as head of client coverage for the Middle East and north Africa. She will foster cross-selling opportunities for global markets and investment banking, the bank said in a statement.
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Saudi Arabian Mining's (Ma’aden) subsidiary Ma’aden Aluminium has signed a $1.78bn syndicated loan to refinance a facility signed seven years ago.
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Qatar National Bank has received interest from its relationship banks as well as new lenders from outside the Middle East for a loan refinancing, showing international lenders are no longer afraid of publicly showing their support for Qatari entities six months after its Gulf Cooperation Council neighbours severed ties with the nation.
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Adnoc Distribution, Abu Dhabi National Oil Co’s chain of petrol stations and shops, signed a $2.25bn loan with a club of banks before its initial public offering, which was completed last week.
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Saudi Arabian Mining Co or Ma’aden, Saudi’s largest mining company, has amended a revolving credit facility that was due to mature at the end of the month.
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Warba Bank has successfully made its debut in the international loan market with an oversubscribed $400m syndicated facility provided by 16 banks.
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Dubai’s GEMS Education has concluded its early bird syndication phase on a $1.25bn loan, with 10 banks on board.
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Abu Dhabi National Energy Co, known as Taqa, has invited banks to join a $1.25bn syndicated loan, which it plans as a bridge to a bond issue.
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Oman Telecommunications is expected to sign a $2.2bn loan in the coming weeks to finance its acquisition of a 21.9% stake in Kuwaiti telecoms company Zain Group.
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Abu Dhabi National Oil Co has signed its $6bn debut syndicated loan facility with 13 banks. The deal was well received by banks, driving down pricing to new lows.
