Once a relatively sleepy backwater of longer-term project and small-scale FI financings, the loan markets of the Middle East are now global and booming. But as hydrocarbon-fuelled corporates and sovereigns seek to diversify and pick up assets around the world using leverage, the global credit market is facing its severest liquidity test since the early 1990s. Some say the malaise is even more profound than during the last oil shock. Despite the very real difficulty in some parts of the loan market, the first IFR Middle East Roundtable’s panel...Read more
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Once a relatively sleepy backwater of longer-term project and small-scale FI financings, the loan markets of the Middle East are now global and booming. But as hydrocarbon-fuelled corporates and sovereigns seek to diversify and pick up assets around the world using leverage, the global credit market is facing its severest liquidity test since the early 1990s. Some say the malaise is even more profound than during the last oil shock.
IFR: In spite of the wider difficult market, Middle Eastern corporate loan volumes appear to have held up relatively well. How does the panel rate the health of the market?
Once a relatively sleepy backwater of longer-term project and small-scale FI financings, the loan markets of the Middle East are now global and booming. But as hydrocarbon-fuelled corporates and sovereigns seek to diversify and pick up assets around the world using leverage, the global credit market is facing its severest liquidity test since the early 1990s. Some say the malaise is even more profound than during the last oil shock.
IFR: Is that to suggest that the bond and loan market pricing is converging?
IFR: In spite of the wider difficult market, Middle Eastern corporate loan volumes appear to have held up relatively well. How does the panel rate the health of the market?
IFR: Moving on to the FI market, as we've mentioned financial institutions were a huge source of loan volume in the past few years but we've seen only clubs and one syndication this year. What is the future for this market?
IFR: Is that to suggest that the bond and loan market pricing is converging?
IFR: Moving on to the FI market, as we've mentioned financial institutions were a huge source of loan volume in the past few years but we've seen only clubs and one syndication this year. What is the future for this market?