‘First test’ loan for Sonangol as oil price improves

Sonangol, the Angolan national oil and gas company, has mandated Standard Chartered to arrange a term loan after a two year absence from the market.

  • By Mariam Meskin, Mike Turner, Silas Brown
  • 11 Oct 2018

One loan banker said Sonangol usually takes dollar term loans with an amortising structure, which he thought likely to be the structure of the new loan.

“It is still early days, but this is the first test for the borrower since the oil price has improved,” he said.

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Global Syndicated Loan Volume

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3 Citi 194,719.49 578 5.83%
4 Wells Fargo Securities 187,241.25 693 5.60%
5 MUFG 139,823.02 889 4.18%

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4 Mizuho 4,520.75 12 6.53%
5 Sumitomo Mitsui Financial Group 4,112.05 7 5.94%

Bookrunners of European Leveraged Loans

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1 BNP Paribas 16,223.54 81 7.30%
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5 UniCredit 11,414.29 66 5.14%

Bookrunners of European Marketed Syndicated Loans

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4 UniCredit 32,244.17 143 5.32%
5 SG Corporate & Investment Banking 31,187.44 119 5.15%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%