‘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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1 JPMorgan 31,493.03 52 14.94%
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3 Mizuho 9,935.55 34 4.71%
4 Citi 9,808.84 32 4.65%
5 MUFG 9,041.37 66 4.29%

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1 BNP Paribas 766.21 2 8.47%
1 Abu Dhabi Commercial Bank PJSC 766.21 2 8.47%
5 Standard Chartered Bank 409.06 1 4.52%

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5 BNP Paribas 1,742.18 7 4.49%

Syndicated Loan Revenue - EMEA

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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%
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5 Deutsche Bank 21.89 32 4.14%