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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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Loan market regular Ghana Cocoa Board (Cocobod) is seeking a medium term loan, as it grows its syndicated loan facilities beyond its annual one year trade finance deal.
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Banks are waiting to hear from Nigerian National Petroleum Corp (NNPC) about two separate loan mandates.
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Commerzbank has stopped lending outside Germany and Poland for the rest of the year, in an effort to meet the EBA’s additional capital requirements.
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China’s Home Inns & Hotels Management has got two commitments worth $45m for its $240m acquisition financing, which will be used to buy local rival Motel 168. Funding officials from the company met potential lenders on a roadshow last week, and the leads are now deciding how much of the deal they want to sell down.
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CIBC, Citi and HSBC have joined syndication of the $260m of leveraged loans backing the buy-out of V.Group, parent company of Scottish shipping services company V.Ships, by Canadian pension fund Ontario Municipal Employees Retirement System (OMERS) from Exponent. Royal Bank of Canada has underwritten the deal.
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Lenders to Lion Capital’s cereal maker Weetabix expect the firm’s amend and extend request to be approved, after 50% of the syndicate accepted the terms on offer during a pre-sounding. Investors said that the margin uplift on offer should be enough to offset increased euro-sterling swap costs.