United Arab Emirates

Indian single stock futures traded on the Dubai Gold and Commodities Exchange (DGCX) saw record volumes during October, as use of currency derivatives also grew.

State-owned Abu Dhabi National Oil Co (Adnoc) is expected to sign its debut syndicated loan facility for $6bn with 13 banks next week.

Oman electrical distribution company Mazoon has opened books on a 10 year sukuk with a chunky premium at mid to high 5%, leading to plenty of investor interest — despite the glut of Middle Eastern trades.

Dubai Aerospace Enterprise (DAE) Capital has financed an Airbus A320-200 aircraft for Saudi Arabian Airlines’ low-cost carrier ‘flyadeal’ with a loan from Bank ABC.

Abu Dhabi Crude Oil Pipeline (Adcop) printed a $3.037bn dual tranche debut trade this week, with the quasi sovereign shrugging off background swings in rates to print tight to the Abu Dhabi curve.

Abu Dhabi Crude Oil Pipeline, a wholly owned subsidiary and strategic asset of Abu Dhabi National Oil Co (Adnoc), has launched its $3bn dual trancher on Thursday with coupons set at the tight end of final guidance and books in excess of $11bn. Though an analyst said the levels offered looked fair, he said he was disappointed by the lack of transparency into Adnoc offered by the note.

UniCredit will upgrade its representative office to a branch in Abu Dhabi to focus on transaction banking and financing in euros and dollars.

Another long-awaited IPO kicked off on Monday when Emaar Properties, the United Arab Emirates (UAE) real estate company, launched the spin-off of its flagship property development business, albeit with a smaller deal size than initially expected.

Trade & Development Bank (TDB), the eastern and southern African development bank previously known as Preferential Trade Area Bank, is making its debut in the Middle Eastern loan market with a $200m facility.

Dubai’s Global Education Management Systems (GEMS) Education has mandated four banks to coordinate its $1.2bn loan.

Abu Dhabi Crude Oil Pipeline (Adcop), a wholly owned subsidiary and strategic asset of Abu Dhabi National Oil Co. (Adnoc), has named four of the arrangers of its loan to lead bond investor meetings, and those who joined the syndication will be added later.

Development finance institutions the European Bank for Reconstruction and Development (EBRD) and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.