GCC
-
Finablr’s shares have been suspended and the company has warned that it may go out of business just ten months after ts IPO. -
Finablr, the parent company of Travelex, has issued a warning that it may struggle to access financing due to the impact of the Covid-19 coronavirus and its association with NMC Health, causing its share price to slump to a record low.
-
NMC Health, the scandal-hit UAE-based hospitals operator, has $2.7bn in undisclosed debt, taking its total gross debt to around $5bn, and an investigation into its finances has found evidence of serious fraud.
-
Saudi Arabian fashion retailer Fawaz Abdulaziz Alhokair has raised an $800m multi-currency loan with a consortium of local lenders.
-
Dubai Islamic Bank, which began roadshows over a week ago for a senior unsecured sukuk, has postponed the deal as a result of the Covid-19 virus, according to bankers near the deal. The spread of the virus has caused sharp swings in global markets, causing havoc in primary markets.
-
Shares in NMC Health, the London-listed United Arab Emirates hospitals operator, have been suspended. Its convertible bonds have fallen to around 50 cents on the dollar, after the Financial Conduct Authority (FCA) placed it under investigation and the company fired its chief executive.
-
Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.
-
-
Drinks group C&C to sell US PPs as Irish firms return — Almarai feasts on $100m for MENA expansion — Lufthansa flies by Schuldschein market for short dated debt — Archer plots loan A&E — Greencoat UK draws debt for wind farm buy
-
Dubai Islamic Bank is embarking on a roadshow having mandated nine banks for a long five year or seven year dollar benchmark sukuk.
-
Dar Al Arkan Real Estate Development Company moved beyond the usual five year tenor it normally issues at on Wednesday, making the most of investors’ willingness to take on longer maturity paper.
-
The Islamic Development Bank hit the market for a five year dollar benchmark on Wednesday, raising $2bn at a spread of 40bp to mid-swaps.
