Saudi Arabia

The Middle East has been fuelling business in the CEEMEA bond and loan markets for the last 12 months. That looks set to persist in 2019, when the region’s big hitters are expected to come with multi-billion dollar financing needs to both markets. Michael Turner and Francesca Young report.

A host of emerging market opportunities are set to be presented to equity investors in 2019 with Kazakhstan likely to lead the way with a number of highly anticipated listings. Sam Kerr reports.

Emerging markets, reeling from a dreadful fourth quarter, should return to form in January, in spite of the bad conditions prevailing in the broader market.

Saudi Electricity Co has closed a $2.15bn revolving credit facility after months of talks, as bankers concede that banks are "unlikely to turn the tap off" on Saudi deals amid international political upheaval.

High hopes for a bumper corporate finance year in Saudi Arabia have been dashed by the pulled Aramco IPO, the blockade of Qatar and the murder of journalist Jamal Khashoggi, writes David Rothnie.

Saudi Arabia is mired in international controversy but its national energy company, Saudi Aramco, is said to have been sounding out the syndicated loan market for a deal to finance a $5bn petrochemicals plant. With even larger deals on the horizon, lenders appear to be supportive of the borrower despite the highly charged political situation. Mariam Meskin reports.

Despite commodity catastrophes and diplomatic discord, the Gulf is set to be one of the most promising regions for the syndicated loan market in coming years, with a number of projects in the pipeline and governments seeking to modernise their economies by diversifying their funding sources. Banks seeking long-term returns and future ancillary business should pay close attention.

Islamic Development Bank launched its first euro benchmark on Wednesday, raising €650m with a five year bond.

Saudi Arabia’s bond debt was the best performing sovereign in its index last week, despite the country's government admitting that a journalist was killed in its Turkish consulate.

Emerging market issuance is picking up steam once more, despite the weakening across the board in secondary levels.

Turkish president Recep Tayyip Erdoğan waded into the drama unfolding in the Middle East on Tuesday morning. He called the disappearance of journalist Jamal Khashoggi a “pre-meditated” and “political murder”, but stopped short of revealing new evidence and left investors unfazed.

Islamic Development Bank’s first euro sukuk benchmark is expected to come later this week, following the conclusion of the roadshow on Tuesday.