For full Middle East business coverage, see MEED The Omani government is seeking to raise a loan of about $3.4 billion via state-owned Petroleum Development Oman (PDO) and is considering selling international bonds, Bloomberg reported yesterday. The company, which is…
Category: Banking
Saudi Arabia ponders massive bond sale
For full coverage of Middle East business, see MEED Saudi Arabia, encouraged by the strong demand for GCC debt among international banks, is considering the sale of up to $15 billion of bonds this year, Bloomberg reported today. It would…
Gulf Bank sells KD 100m in BBB bonds
For full coverage of Middle East business, see MEED Kuwait’s Gulf Bank said today that it had issued KD 100m worth of 10-year non-callable before 5 years, Tier 2 Basel III – compliant subordinated bonds. KAMCO Investment Company and Kuwait…
KNPC finalising clean fuels megaloan
The Clean Fuels Project is being built at Mina al-Ahmadi (see map) For full coverage of Middle East business, see MEED Kuwait National Petroleum Company (KNPC) is in the final stages of talks with international financial institutions for the $6.4 billion…
New bank for Abu Dhabi finance zone
For full coverage of Middle East business, see MEED Abu Dhabi Financial Group (ADFG) and Bahrain’s GFH Financial Group are setting up a a jointly-owned Islamic bank in Abu Dhabi’s new financial free zone, ADFG chief executive Jassim Al Seddiqi…
QNB’s Finansbank deal gets thumbs-up
For full coverage of Middle East business, see MEED Moody’s Investors Service said in a report yesterday that Qatar National Bank’s (QNB’s) planned acquisition of Turkish lender Finansbank AS offers advantages for the group, but the acquisition will expose the…
Qatar launches $9bn Eurobond
For full coverage of Middle East business, see MEED Qatar is selling a triple-tranche Eurobond issue with maturities of five, 10 and 30 years, Bloomberg reported today. In total, it’s the largest Middle East bond issue ever and further evidence…
Iran has got $3bn not $55bn in frozen assets
John Kerry during his May visit to London in which he met non-US banks Only $3bn of $55bn of Iran’s frozen assets have been returned so far and European and Asian banks continue to be reluctant to deal with Iranian counterparts,…
Saudi Aramco plans riyal sukuk programme
JPMorgan Chase & Company, HSBC Holdings and Riyad Bank are advising Saudi Aramco about setting up a riyal-denominated sukuk programme that could be launched later this, Bloomberg reported this morning. The world’s largest oil producing corporation, which is due to…
S&P affirms NBK at A+
For full coverage of Middle East business, see MEED Standard & Poor’s (S&P) has affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+. All the bank’s ratings carry a stable outlook. “Our outlook on NBK is…