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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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ICBC Financial Leasing has closed syndication and finalised allocations on its $230m loan, after getting enough demand to raise the size by $30m.
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More than 10 banks have joined China Resources Land’s HK$3bn ($386m) loan, with overall commitments now exceeding HK$6bn. The oversubscription means that the company will consider increasing the loan size when syndication closes, according to a banker close to the deal.
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The slump in the international bond market has started to hit borrowers, with Hilong Holding becoming one of the first companies to tap the loan market after scrapping plans for a bond issue.
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Australian rail freight company Aurizon Holdings has refinanced its outstanding debt, after 13 lenders came on board for its A$3.6bn ($3.59bn) syndicated loan.
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K Wah Financial Services has launched a HK$2.5bn ($322m) dual tranche loan into syndication, managing to price it more than 50bp lower than its deal from September 2012.
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China Minzhong Food Corp has launched a $150m five year loan into syndication after a proposed bond issue never materialised.