Gazprom, Socar to fire up EM project finance

By Michael Turner
03 Oct 2013

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.

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 ...

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