Middle East Loans
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Oman’s Bank Muscat is in the process of signing a club loan of about $300m, according to one banker who was invited to join.
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Dubai-headquartered Emirates NBD is paying 150bp all-in pricing for its latest loan, tightening from the cost of the previous financing, according to a banker close to the deal. -
Middle East banks are still drumming up strong demand from the loan market despite bearish ratings for the region this week, with Qatar National Bank and Emirates NBD testing the market.
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Ooredoo, one of the largest telecommunications firms in the Middle East and Africa, is refinancing a $1bn three year revolving credit facility, according to two bankers.
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Emirates NBD is close to finalising a loan of $1.25bn or more, according to two sources at the bank.
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Two US private equity firms have raised a $350m-equivalent loan for Network International’s buyout of Emerging Markets Payments Holdings (EMP) and tightened the pricing in syndication.
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The head of loan syndications at Emirates NBD Capital, the investment banking arm of Emirates NBD, has left the bank.
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The $3bn inaugural loan for Petroleum Development Oman will be the first of many, as the country’s sovereign and corporates head to international debt markets, according to market participants.
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United Arab Bank — Isbank — LSL Property — Nokian
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Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.
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The UAE’s United Arab Bank launched general syndication for a two year $150m loan on Thursday.
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Quasi-state owned Petroleum Development Oman is reaching out to banks for a $3bn club loan, and asking for chunky tickets of $300m each, according to sources.
