Downgrade forces Nova Kreditna loan pricing up

Slovenia’s biggest bank, Nova Kreditna, has been forced to discuss an increase in pricing on its Eu120m three year bullet term loan following a two notch downgrade by ratings agency Moody’s, according to a banker on the deal. The bank had hoped to sign the loan by mid-October, but this has been delayed by the downgrade.

  • 14 Oct 2010
The facility was launched into syndication at the beginning of September and the margin was originally set at 140bp. But Moody’s downgraded all rated Slovenian banks by two notches on September 28 while the transaction was in syndication. Nova Kreditna’s rating was slashed from A2 down to Baa1 ...

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