Kuwait
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Middle Eastern banks are diversifying their funding portfolios by entering the international syndicated loan market for the first time, with Bahrain Islamic Bank (BisB) signing a deal at the end of September and two more due to sign this month. -
Kuwait’s Warba Bank is in talks with lenders about making its debut into the loan market with a $200m Islamic facility, the second Islamic bank to launch its first deal this year.
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Standard Bank is planning to launch a $750m syndicated loan, and hopes to drum up enough interest to enlarge it to $1.25bn.
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Kuwait National Petroleum Co is due to finalise documentation on its final loan facility for its 'clean fuels' project, bringing the total debt accumulated for the project to $7.2bn.
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Not only is the CEEMEA bond market red hot and smashing through issuance records, there were also signs this week of its developing maturity, writes Virginia Furness.
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Kuwait’s national champion National Bank of Kuwait is book building for a rare five year senior bond following the sovereign's successful $8bn debut in March.
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Kuwait Energy, the independent Kuwaiti oil and gas company, is to test investor appetite towards the recovering energy sector, having announced the launch of its long awaited IPO on the London Stock Exchange on Wednesday morning.
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Despite a public holiday on Monday and the second round of the French presidential election due this Sunday, the IPO market is vibrant, with two more names joining the pre-summer pipeline so far this week.
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Kuwait National Petroleum Co has signed another $1bn loan, after borrowing $4bn in a syndicated facility launched last month, to finance its “clean fuels” project.
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Al Ahli Bank of Kuwait (ABK) is on track to become the fifth bank from the Gulf state to access the dollar market this year, while Ezdan pulls off a coup for lower rated names in the sukuk market.
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Gulf Cooperation Council governments are expected to raise $32.5bn in international sovereign bonds this year, down from the record $38.9bn last year, said Moody’s in a report on Tuesday.
