Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
Syndicated loans bankers never tire of complaining that their clients are pressing them harder than ever on pricing at the moment, even though most banks’ cost of funding is continuing to rise. But this week saw a rare — although very small — concession by a powerful borrower to its relationship banks, as German automaker BMW opted to refinance a $8bn revolver with a euro facility that was launched on Thursday.
-
Tajikistan’s Bank Eskhata has borrowed $8m from development banks and a German co-operative bank.
-
Swiss travel retail firm Dufry has closed syndication of a $1bn loan it used to back the takeover of assets in South America and Armenia. The five year multi-currency line was underwritten by nine banks, but after the deal was oversubscribed in syndication all lenders have had their commitments scaled back.
-
Moody’s Investors Service has upgraded the ratings on an estimated 287 billion worth of collateralized loan obligations that were lowered during the financial crisis.
-
Commitments are due on Friday on a €1.3bn acquisition facility for Belgian building materials firm Etex with the loan expected to be oversubscribed.
-
Russia’s largest bank by assets, Sberbank, has sent international banks a request for proposals for a syndicated loan of up to $2bn. The invitation did not mention the margin it hopes to secure but three bankers said that Sberbank indicated in one-to-one discussions that it wants to set a new benchmark for Russian financial institution pricing.