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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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Profesional Telekomunikasi Indonesia (Protelindo) proved the wisdom of its syndication strategy this week, sealing a $482.3m dollar and rupiah loan in a market better known for club deals. Bankers hope more syndications will now follow as several telecoms companies bid to buy towers from local titan Indosat.
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Andhra Bank approached lenders with an increased $110m loan this week, after convincing State Bank of India to join the deal as a fifth bookrunner and boost the loan from $90m. But the borrower will have to compete for commitments with a $250m deal from IDBI Bank, which bankers plan to launch on Monday.
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Rural Electrification Corp launched a $300m loan into syndication this week, becoming the latest in a long line of Indian state-owned companies to tap the loan market. Indian Railway Finance Corp is readying its $200m loan, which bankers could launch as soon as Friday.
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Trafigura became the latest commodities company to hit the loan market for refinancing this week, pitching a $700m deal to Asian lenders on Thursday.
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Bankers keen to pick up a slice of Malaysian risk could get their wish this month as several Malaysian companies look to launch dollar loans. Lenders have been starved of Malaysian credits this year — and bankers are optimistic that these deals will do well as a result.
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Oman’s Bank Muscat has signed a $300m three year syndicated loan just two months after raising a $250m one plus one facility in May.