Banking

September 26, 2016

1

Qatar's Ahli Bank finalising three-year loan in region of $180mln – sources

Qatar's Ahli Bank is completing a three-year club loan financing expected to be in the region of $180 million, said two banking sources with direct knowledge of the situation.

The loan, launched in the market at the end of August, is self-coordinated, said the sources, meaning the fundraising process is arranged by the borrower. The loan documentation is being finalised and the facility is expected to be signed in one or two weeks, noted one of the two sources.

Qatar’s Ahli Bank did not immediately respond to a request for comment.

The Qatari bank was in talks with...

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September 26, 2016

2

A.M. Best Special Report: Pressure on MENA Reinsurance Market Persists as Regional Players Produce Mixed Earnings

Reinsurance markets in the Middle East and North Africa region (MENA) are generally perceived as a source of expansion, with continued market liberalisation and the gradual removal of sanctions from Iran expected to yield further opportunities for reinsurers. Furthermore, the robust, albeit deteriorating, profitability achieved by leading primary insurers over the last five years has enhanced the region’s attractiveness to both foreign and domestic reinsurers.


...

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September 25, 2016

3

Algeria plans bank privatizations as oil money dries up

Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said.

The plan will open the door for foreign investors to acquire controlling stakes in banks, reversing a rule requiring Algerian firms to keep a majority"...

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September 22, 2016

4

Mobile banking hailed as a key driver for financial inclusion in Africa

The International Monetary Fund (IMF) estimates that only an average of 34 percent of Sub-Sahara Africa’s adult population has access to financial services and less than 18 percent in the West Africa Economic Monetary Union (WEAMU).

It with this in mind, that the Fund and the Bank of West African States (BCEAO) recently held a conference in Dakar, Senegal, to examine"...

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September 15, 2016

5

UPDATE 2-Bank bosses say two years not enough for post-Brexit trading bridge

LONDON, Sept 14 (Reuters) - Banks will need more than the two years currently allowed to span the gap between Britain leaving the European Union and a new trade deal if they are to avoid disruption to financial markets, industry chiefs said on Wednesday.

Once Britain begins formal negotiations for exiting the EU, known as Article 50, it will have two years until it ceases to be a member of the bloc.

Three of the most senior executives in the City of London told lawmakers on Wednesday that this was not long enough for banks to reconfigure business models.

"It's a multi year...

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September 15, 2016

6

Stanbic Uganda loan oversubscribed in Dubai

KAMPALA, (CAJ News) – STANBIC Bank Uganda has signed a US$55 million two-year loan facility today in Dubai, United Arab Emirates.

Emirates NBD Capital Limited was the Sole Co-ordinator and Bookrunner of the financing.

Al Ahli Bank of Kuwait K.S.C.P, Bank of Baroda, SBM Bank (Mauritius) Ltd and The Commercial Bank (Q.S.C.) joined the transaction as Mandated Lead Arrangers.

The"...

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September 15, 2016

7

Sharjah Islamic Bank wins Wells Fargo “Straight-Through Processing Award”

Multi-award winning Sharjah Islamic Bank (SIB) has received yet another accolade to add to its list of achievements, having been recognised with a Wells Fargo Straight-Through Processing Award – for “consistently demonstrating thoughtful and organised commercial payment volumes and quick and seamless transactions”.


SIB"...

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September 14, 2016

8

Acelity Announces Pricing of $1,750 Million of 9.625% Second Lien Senior Secured Notes

Acelity L.P. Inc. (“Acelity”), a global advanced wound care and regenerative medicine company, announced today the pricing of the private offering by its wholly-owned subsidiaries, Kinetic Concepts, Inc. (“KCI”) and KCI USA, Inc. (together with KCI, the “Issuers”), of $1,750.0 million in aggregate principal amount of 9.625% second lien senior secured notes due 2021 (the “Notes”).


The"...

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September 7, 2016

9

Barclays named 'Best Bank for Advisory' in the Middle East

Barclays won Euromoney's 'Best Bank for Advisory in the Middle East' award, which recognises best in class advice to clients in Mergers and Acquisitions (M&A), restructuring, risk management and regulatory issues. During the same ceremony, Barclays was also named 'Best Investment Bank in Qatar' reaffirming the firm's leading position in Mergers and Acquisitions (M&A), Equity Capital Markets (ECM) and Debt Capital Markets (DCM) in the State of Qatar.

During 2015, Barclays advised clients in the Middle East across various sectors,"...

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September 7, 2016

10

Equity International Closes First Asian-Focused Fund

Equity International (EI), Sam Zell's investment firm focused on emerging markets, announced today the closing of ZEI Co-Invest 1 Fund, L.P. (ZEI Asia Fund), with $205 million of commitments. The ZEI Asia Fund is expected to co-invest alongside other capital in over $2 billion of Asian logistics real estate projects to be developed by ESR (e-Shang Redwood), an affiliate of EI.


Equity"...

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