United Arab Emirates
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The US real estate investment trust Reality Income is planning a £300m bond sale to part finance its acquisition of 12 properties in the UK linked to grocer J Sainsbury’s.
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UAE alternative investment and asset management firm, Gulf Capital, has closed a $136.12m-equivalent revolving credit facility. -
Dubai-based property firm Damac has raised £175m to finance the development of its first luxury real estate project in London, Damac Tower. The deal comes amid prolonged Brexit uncertainty and a slump in the UAE’s real estate market.
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Mubadala, Abu Dhabi's sovereign wealth fund, is due to close a $2bn loan refinancing in coming weeks, according to bankers familiar with the deal.
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Standard Chartered is paying $1.1bn in penalties to US and UK authorities in relation to breaching rules relating to sanctions and financial crime. This exceeds the $900m provision the bank announced in February for sanctions fines.
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Finablr, the Abu Dhabi-based cross-border currency and financial technology holding company which owns Travelex, has filed initial paperwork ahead of announcing an intention to list on the London Stock Exchange.
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Network International, the Dubai-based payment company, closes books on its IPO on Tuesday and has set what it feels is a generous range for investors, with a view to trading up when it is admitted to the London Stock Exchange on Wednesday.
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Emirates NBD (ENBD) has renegotiated the price it is paying to buy Turkish lender Denizbank from Sberbank after the fall of the lira since the deal was first announced last year. Some bankers have wondered how the acquisition will be financed, but ENBD has told GlobalCapital the bank will not raise debt to fund the deal.
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Bookrunners on Dubai-based payments company Network International will close books on the IPO a day early, and have increased the size of the offering, after receiving huge demand for stock.
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The National Bank of Ras Al-Khaimah came to market for $500m on Tuesday, managing to slice 25bp from initial price thoughts to the final spread.
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Network International, the Dubai-based payments company listing in London, was covered throughout its price range on its first day of bookbuilding on Monday. It built on a surge of momentum after it announced US firm Mastercard as a cornerstone investor in its IPO in March.
