Kuwait Petroleum Corporation (KPC) has agreed to procure a syndicated loan of Kd1.5bn ($4.89bn) to support its strategy to boost oil output. The syndicated loan, denominated in Kuwaiti dinars, will comprise conventional and Islamic tranches and will help finance the company’s expansion plans, reported Reuters. It will be split into a conventional portion of Kd825m and an Islamic tranche of Kd675m. The National Bank of Kuwait will initially extend Kd330m in funding, with the possibility of an additional ...

Abu Dhabi’s sovereign wealth fund ADQ is close to securing a $4 billion syndicated loan, primarily from lenders based in Greater China, in the latest Middle East deal tapping Asian bank liquidity. The loan has mainly attracted banks in China, Macau and Taiwan, according to people familiar with the matter. A representative for ADQ declined to comment. ADQ’s financing underscores a broader trend of Gulf economies syndicating loans in Asia as they seek to diversify funding sources amid ambitious expansion p ...