Kuwait

Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.

Al Ahli Bank of Kuwait is beginning a roadshow to market a dollar Reg S-only perpetual non-call five year additional tier one bond.

Kuwait could become the latest Gulf Corporation Council sovereign to issue 30 year debt after its parliament approved a bill allowing the government to raise its borrowing ceiling to KD25bn ($83bn), and to issue international debt out to 30 years.

Warba Bank has successfully made its debut in the international loan market with an oversubscribed $400m syndicated facility provided by 16 banks.

Albaraka Turk, Turkey’s first participation, or Islamic, bank, has signed a $101m murabaha loan with seven banks.

Kuwait’s Burgan Bank is planning to refinance a $350m syndicated loan that is due to mature next month.

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.

Standard Bank is planning to launch a $750m syndicated loan, and hopes to drum up enough interest to enlarge it to $1.25bn.

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.

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.

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.