Pricing appeals on BPCL, HPCL and IRFC loans
The latest loans for state-owned Bharat Petroleum, Hindustan Petroleum and Indian Railway Finance have captured the attention of loans bankers, thanks to the juicy pricing on offer. And with more deals in the pipeline, there is increasing hope that a price correction is finally gaining strength among the country’s credits.
Bharat (BPCL) has launched its $500m six year financing into general syndication, offering a margin of 175bp over dollar Libor.
The amortising deal hit the market on October 21 via bookrunners and mandated lead arrangers Australia and New Zealand Bank, BNP Paribas, DBS, Deutsche Bank, Mizuho Bank,
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