United Arab Emirates
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Gulf schools operator Gems Education is following its $250m loan financing in April with another deal for $500m which will be syndicated soon, according to bankers. -
Etihad Airways will begin investor meetings on a reverse enquiry for an intermediate sukuk, the successful placement of which will result in the borrower’s first ever standalone bond.
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State-owned Abu Dhabi banks ADCB and NBAD have taken a very different approach to the loan market, with one bank paying up to bring in new lenders and the other demanding tight relationship pricing.
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The Dubai Gold and Commodities Exchange (DGCX) has announced plans to launch a renminbi futures contract, with Gaurang Desai, CEO of the exchange, telling GlobalRMB the contract has already received regulatory approval.
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The government of Dubai has picked HSBC as financial advisor for its $3bn fundraising to expand its international airports.
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The Dubai Gold and Commodities Exchange is to start trading a Shanghai gold futures contract.
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Abu Dhabi airline Etihad Airways has launched a Schuldschein for €150m denominated in euros and dollars, the first ever for a Middle East borrower, according to one market participant.
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National Bank of Abu Dhabi is syndicating a $2bn term loan to replace bilateral loans. The UAE bank is paying more for the longer dated syndicated deal, though the latest pricing is still “aggressive”, according to one banker.
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Taqa achieved tight pricing for a dual tranche dollar tap on Wednesday after starting wide due to uncertain market conditions and anticipation of imminent sovereign supply from Saudi Arabia.
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Abu Dhabi National Energy Company (Taqa) emerged with pricing on Wednesday for tap of its dual tranche dollar deal from June.
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Abu Dhabi Commercial Bank (ADCB), which is seeking a $300m loan from Asian lenders, is offering four participation tickets with details on the levels now available.
