United Arab Emirates

Majid Al Futtaim (MAF) on Tuesday opened books on only the second Middle East corporate sukuk of the year, as Islamic bond issuance starts to lag behind the 2014 run rate.

The newly reopened Middle East bond market has tougher tests of demand ahead, with a trio of mandates hitting screens on Monday morning and two others rumoured.

Abu Dhabi’s Union National Bank (UNB) signed its latest $750m loan in the nick of time, ahead of a widening margins for Middle Eastern loans, bankers say.

Abu Dhabi’s Union National Bank (UNB) had to scale back commitments on its recent $750m loan despite increasing it from $500m, a bank spokesperson has claimed.

Abu Dhabi’s Union National Bank (UNB) has increased its latest loan to $750m and closed the deal just in time to achieve a tight margin, according to one banker on the deal.

Abu Dhabi Water & Electricity Authority (Adwea) is planning an international dollar project bond, which could be the first such deal from CEEMEA since 2013.

United Arab Bank has completed and signed a $125m three year loan with a syndicate of six banks.

Rival debt bankers like to pounce on pulled deals like coyotes on wounded possums. But emerging market syndicate officials would do well to look beyond the opportunity for point scoring to what Abu Dhabi Commercial Bank’s abortive trade really indicates about Middle East liquidity.

Abu Dhabi Commerical Bank — an A-rated CEEMEA stalwart — pulled a dollar bond mid-way through execution on Monday afternoon, leaving bankers and buyers questioning whether Middle East liquidity could be much weaker than they had thought.

National Bank of Abu Dhabi has raised $75m with a trio of private floating rate medium term notes, printing at its shortest maturity yet in the format, and more in such maturities could follow from banks in the region.

Abi Dhabi Commercial Bank has released initial price thoughts equating to a 20bp new issue premium for its bond deal, according to a lead.

The Loan Ranger's trusty companion Silver travelled to the Middle East to learn about the ways of Arabian stallions and the local market, but returned with tales of strange greeting rituals.