Mangalore Refinery picks SBI for $400m five year
Mangalore Refinery and Petrochemicals has picked State Bank of India as the bookrunner and mandated lead arranger of its $400m five year loan, which the company has increased from a mooted size of $250m.
SBI beat competition from at least five other competing banks, after pricing the loan in the mid-200bp over dollar Libor area, according to a banker close to the deal. The other banks that also pitched for the loan include Bank of Baroda, DBS and First Gulf Bank.
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