Gazprom, Socar to fire up EM project finance

Emerging market project financiers are counting down to blast-off as lenders race to sign two jumbo deals worth more than $13bn before the end of 2013, writes Michael Turner. Bankers are confident that these transactions are just the beginning, with market conditions perfect for such deals — the combination of rock-bottom corporate loan margins, recapitalised banks and lenders hungry for yield is expected to lead to a roaring 12 months for long tenor loans.

  • By Michael Turner
  • 04 Oct 2013

Loans bankers are working to get project finance facilities closed for Russian state-owned gas firm Gazprom and Azerbaijan state-owned Socar.

“There’s a lot of moving parts to these deals,” said a senior loans banker. “But we’re aiming to get them done this year.”

Gazprom has begun sounding ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%