Middle East Loans

The National Bank of Oman (NBO) has mandated two local lenders to arrange a term loan. The deal comes amid a brief capital markets flurry in Oman, despite a tumultuous period for the cash-strapped Sultanate, which has seen its ratings downgraded.

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Dubai-headquartered international education provider GEMS Education is seeking a $1.85bn debt package to support CVC Capital Partners taking a minority stake in the company.

Oman-based Octal, a leading producer of plastic packaging, has raised loans to the value of $625m from a range of local and international lenders

Public Investment Fund (PIF), Saudi's sovereign wealth fund, is expected to close its second ever debt offering in September, according to bankers close to the deal. Some say the bridge loan, which is a reprieve to EM bankers that have been operating in a barren market all year, may receive tighter margins than PIF's competitively-priced debut loan in September 2018.

Bahrain Commercial Facilities Co, a consumer lender, has raised a $125m five year loan facility from a consortium of regional banks.

Investment firms BlackRock and KKR have signed a $3.275bn loan to support a pipeline partnership with the United Arab Emirate’s state-owned oil company, Abu Dhabi National Oil Company (Adnoc), according to bankers. The agreement sparked interest among market participants, who expect an increase in public-private partnerships in the Middle East energy industry, some of which are likely to be financed through traditional capital markets. Mariam Meskin reports.

Sharjah-based United Arab Bank (UAB) has raised a $195m loan from a consortium of local and European banks, as borrowers in the region continue to diversify their portfolios with international lenders.

Emirates National Oil Company (ENOC) has raised a $690m loan from an exclusively Chinese syndicate, a rare event rare for the region.

Dubai Islamic Bank (DIB) is set to acquire smaller rival Noor Bank after months of consideration. The merger will create one of the region's largest Islamic banks, and adds to a succession of bank tie-ups taking place or under consideration across the Gulf.

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BlackRock and KKR will soon complete raising a $3bn loan to support a pipeline partnership project with Abu Dhabi National Oil Company (ADNOC), according to bankers familiar with the deal.