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Citigroup Sees MENA Syndicated Loans at More Than $70 Billion

  • About $8 billion to $10 billion of deals in the pipeline
  • Potential M&A deals will be a key determinant of volume
Citi's Stock Traders Pick Up Slack as Fixed-Income Disappoints
Photographer: Ore Huiying/Bloomberg

The resurgence in syndicated loans in the Middle East and North Africa seems set for a slowdown as the deal pipeline dries up, according to Citigroup Inc.

Loans in the region have surged 85 percent in 2018 to $33.4 billion, helped by a jumbo $16 billion issue from Saudi Arabia, according to data compiled by Bloomberg. Overall volume will probably climb to more than $70 billion, according to Zain Zaidi, a director for loans and acquisition finance at Citigroup, the region’s biggest loan arranger. Syndicated loans in MENA fell 30 percent in 2017 to $82.9 billion.