Stemcor takes full increase as other traders look to Asia
Stemcor, the steel trading company has taken advantage of banks’ hunger for paper in the investment grade loan market and increased the size of its dual tranche facility after the deal was heavily oversubscribed.
It has signed a $562m 364 day revolving credit facility, increased from a launch size of $400m, and a $125.5m two year forward start facility, up from $100m.
"This deal was oversubscribed, as all of the deals from commodities firms seem to be, and the borrower took the full
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