Nova Kreditna increases loan despite downgrade
Slovenia’s biggest bank Nova Kreditna has signed an increased Eu165m syndicated loan, but did not have to increase its margin despite a two notch downgrade by Moody’s. Nova Kreditna had been negotiating for a Eu120m loan with a margin of 140bp. At the end of September Moody’s slashed its ratings for all Slovenian banks by two notches, leaving Nova Kreditna at Baa1 with a negative outlook. To find out how the borrower stymied its lenders’ push to increase the margin, read EuroWeek this Friday.
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