United Arab Emirates

Dubai healthcare group Aster DM Healthcare has signed a $295m facility with nine banks, despite concerns that its operations in Qatar would complicate syndication of the debt.

The EM bond market is primed for trades this week, though syndicate bankers said that there were few names ready to pull the trigger other than Ukraine and the Islamic Development Bank (IDB), which have already hit screens.

The dispute between Qatar and six other Gulf states could curb its chances of plugging the country's banks’ funding needs through the syndicated loan market, leading bankers to believe more private arrangements may be the answer to the isolated gulf state’s woes. Bianca Boorer reports.

Dubai’s Department of Finance has taken out a $1.1bn syndicated loan to finance the expansion of the city's metro line, as part of its plan to host the World Expo 2020.

The two structured bonds issued by EA Partners that have suffered in secondary markets as a result of the the collapse of Air Berlin have recovered three cash points after the borrower issued a statement to say it anticipated that the next coupon payments will be made.

The Communist Party congress is set to kick off on October 18, the emirate of Sharjah plans the Middle East’s first Panda bond issuance, and Swift data says the renminbi was the fifth most used currency for payments globally in July.

Saudi Electricity’s $1.75bn loan, which was signed on August 16, is being syndicated out by the eight lead banks on the deal.

Two Eurobonds issued by EA Partners were still stuck trading around 85-87 this week after Air Berlin's insolvency, announced last week, with investors left waiting for more information from the issuer.

Bankers are expecting $5bn-$7bn of supply from Gulf corporates in the second half of this year, as funding officials rush to lock in financing before an expected rate rise by the US Federal Reserve in December.

Two Eurobonds issued by EA Partners were still stuck trading around 85-87 on Tuesday after Air Berlin announced its insolvency last week with investors leftwaiting for further announcements from the issuer.

Investors missed a strategic warning from Etihad earlier this year when the company removed the CEO in charge of its $4bn expansion strategy, and were blindsided this week when its partner airline Air Berlin filed for bankruptcy, write Virginia Furness and Aidan Gregory.

“I was confused before I went in, and even more confused when I came out,” was how one EM investor described meeting Etihad and its partners to discuss its now infamous structured notes.