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LevFin CLOs

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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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  • Vitol, an energy trader, has launched a $4.5bn credit facility into syndication, with a bank meeting to be held on Thursday.
  • Ecom Agroindustrial, the Swiss commodities firm, has hired ABN Amro and Crédit Agricole to arrange a new $350m multicurrency revolver, with the facility launched to syndication on Wednesday last week.
  • Property investment manager Rockspring has signed a €219m debt facility secured against the O’Parinor shopping centre 15km north of Paris.
  • Dutch construction business Heijmans has signed an amendment and extension of a €250m loan, pushing the maturity of the credit facility out from March 2012 to 2015.
  • Second tier Russian oil producer Bashneft has signed its debut loan – a $300m three year pre-export financing – with a club of four banks.
  • Slovenia’s largest company and the largest retailer in the Balkan region, Mercator Poslovni Sistem, has signed its biggest ever loan from international banks — a €137.6m four year unsecured deal.