Exclusive: JPMorgan looking to offload Saudi and UAE sovereign fund loans - sources
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DUBAI (Reuters) - JPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document, as banks brace for a borrowing spree in the Gulf due to low oil prices.Banks tend to hold loans they grant to Gulf governments in their portfolios, only selling down their exposure quietly through bilateral transactions as they don't want to be seen as dumping the paper in the market, two banking sources..