Middle East
Banque Misr in talks for €300mn loan
One of Egypt’s state banks could soon agree to a large foreign currency denominated syndicated loan. The move comes as the country struggles with a shortage of foreign reserves.
30 Mar 2016
Saudia airs plans for debut debt issuance
The drop in commodity prices, particularly oil, have adversely affected the GCC region’s sovereigns and corporates connected to them. Despite the current economic climate corporates are still looking to expand their operations, with debt markets providing the funding in place of oil backed subsidies.
29 Mar 2016
Dubai Islamic Bank issues benchmark size sukuk
The sukuk issuance is the first from a bank in the GCC since November 2015. Despite the economic realities faced by many banks in the region, the bank was able to significantly tighten pricing of the sukuk amid large investor demand.
29 Mar 2016
Saudi Arabia mulls issuing US$5.3bn in bonds
Low oil prices have caused Saudi Arabia’s budget deficit to swell to new highs. The government is servicing this through foreign currency reserves and issuing local debt to domestic banks.
24 Mar 2016
Oman’s Bank Muscat sets sights on loan
Low oil prices have pressured both sovereigns and corporates in the GCC, which have turned to the international capital markets to shore up their finances.
24 Mar 2016
Aabar Investments inks €3.6bn syndicated loan
Abu Dhabi’s Aabar Investments inked a 5 year senior unsecured €3.6bn loan.
22 Mar 2016
Moody’s cuts outlook on Saudi banking sector
Moody’s lowered its outlook for the Saudi Arabian banking system from stable to negative.
16 Mar 2016
Qatar to increase PPPs
Due to the strain on public finances in the Gulf region as a result of low oil prices, many countries are increasingly turning to PPPs to support the funding of certain projects. Qatar is not new to PPPs, but is looking to expand their availability to other ventures away from the energy sector.
16 Mar 2016
ORPIC in large debt financing
Oman’s ORPIC has managed to successfully secure a large project financing facility in a region where economies are suffering from low commodity prices. The corporate’s independence from the sovereign, and success as a result of that, highlights that there are still attractive investment opportunities in the Middle East.
15 Mar 2016
KIPCO taps the market with US$500mn bonds
Kuwaiti projects company KIPCO has again tapped the international capital markets. The company’s financial astuteness has contributed to the popularity of its bond on a global scale, analysts suggest.
11 Mar 2016