Middle East Loans
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Borrowers are reluctant to make deals more complicated when securing any loan is tough -
One of the credit lines will support the state-owned electricity provider's business in Egypt
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Lenders can justify low margins or high risks by the bolt-on business they secure, except in the Gulf region
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Western lenders had planned to stand by Russia until the invasion of Ukraine in February
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Head of corporate finance leaves Abu Dhabi bank after former HSBC regional head arrives to run investment bank
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Gulf state hires HSBC and JP Morgan as sustainability structuring agents for financing framework
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Middle East loans bankers pin hopes on second half of year, as data shows number of signed deals continuing to decline
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ING has promoted Sebastian Frederiks to become head of wholesale banking for the Middle East.
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State-owned Qatar Petroleum was in the bond market on Monday with a multi-tranche bond that included a Formosa issue. Investors, meanwhile, say they expect the sovereign — one of the only Gulf states to have been absent from markets so far this year — to sell bonds imminently.
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The Omani lender Bank Dhofar has secured a loan facility from a consortium of international banks, in a deal led by two regional lenders.
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The number of emerging market syndicated loans is in decline for the fourth year in a row, according to Dealogic data. Bankers' outlooks for the rest of the year err on the pessimistic side, with the fallout from the pandemic being the main concern.
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Saudi Arabia's Red Sea Development Company has raised a green loan, marking the second deal of its kind raised in the kingdom and the first in local currency. Funds will be used to support the development of the country's new tourist attraction, the Red Sea Project.
