Ports Development Co., an affiliate of Saudi Arabia's Emaar the Economic City, raised an SAR2.7bn (US$720mn) 14-year murabaha facility syndicated by Arab National Bank and Saudi British Bank. The funds will be used to help develop King Abdullah Economic City, a business zone located by the Red Sea near Jeddah.
Mexico's Banco Inbursa is mulling a 10-year dollar denominated senior unsecured bond according to a note from Fitch. The bank expects to raise as much as US$1.5bn from the bond sale. Bank of America Merrill Lynch, Citigroup and Credit Suisse are mandate lead arrangers.
Brazilian logistics provider JSL will begin a roadshow to market a US dollar denominated senior unsecured bond this week, according to a report from Reuters. BB Securities, Bradesco BBI, Morgan Stanley and Santander are the mandated lead arrangers.
South Africa's largest telecoms incumbent MTN Group is said to be mulling a bond sale to help pay off a NGN330bn fine administered by Nigerian regulators, according to a report from Bloomberg. Barclays, Merrill Lynch, Citi, Standard Bank have reportedly secured a mandate as lead arrangers.
Malaysian oil and gas services company Eversendai will look to refinance a RM500mn sukuk issued in 2013.
Oman's Bank Sohar closed a OMR35mn Tier 2 subordinated bond this week. The note sale will help boost the bank's capital ratio.
Poland's Central Bank kept rates unchanged at 1.5% this week in a move expected by analysts. The Central Bank said it expects to keep rates low until at least next year.
The Korean Development Bank (KDB) announced €100mn in new funding for Samsung C&T’s project to build a hospital in Gaziantep, Turkey. The liquidity injection stems from a €1bn fund set up by the KDB for Korean entities participating in infrastructure projects globally.
Saudi Arabia will offer Egypt an additional US$97mn loan to complete the first tranche of its loan for Sinai development scheme.
Dubai-based property giant Emaar Properties raised US$750mn in Islamic notes on Wednesday. The company paid MS+225bp, according to a report from Bloomberg. Bank ABC, Dubai Islamic Bank, Emirates NBD, First Gulf Bank, Mashreq, National Bank of Abu Dhabi, Noor Bank, Standard Chartered and Union National Bank lead managed the trade.
The State Bank of India has reportedly picked bank for a dollar denominated Tier 1 bond sale, India's first since Basel III rules were implemented in the country. Bank of America, Citigroup, HSBC, JP Morgan, National Bank of Abu Dhabi (NBAD), and SBI Capital Markets Ltd. are managing the trade according to a report from Reuters.
BRF GmbH, a subsidiary of BRF S.A. has mandated BB Securities, Banco Bradesco, Itau, JP Morgan and Santander to organise investor meetings for a 144A/Reg S dollar bond Reuters reported, adding that the company earlier this week launched a tender offer amounting to US$291mn on outstanding 2020 and 2022 bonds, with a 7.25% and 5.875% yield respectively. The deal is being managed by BNP Paribas, BTG Pactual and HSBC.
