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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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  • The bookrunners on Jindal Steel and Power’s $400m five year loan plan to open it to the general market on Monday (May 27), with two levels of commitments up on offer.
  • International and regional lenders are once again opening their wallets to Dubai, the debt laden emirate. But they would do well to heed the lessons from the last three years or they could be doomed to repeat them.
  • Telecommunications firm Etisalat Nigeria has signed a $1.2bn-equivalent syndicated loan from 13 Nigerian banks.
  • A Kuwaiti hospital expansion joint venture led by US firm Associated Construction Co has signed a KD98m ($342m) project finance loan from National Bank of Kuwait.
  • Russian gas firm Novatek is due to sign its $1.5bn club loan by the end of May. Barclays is co-ordinating the deal.
  • Spanish bus transport provider Avanza Grupo has released guidance for its two tranche debut bond issue.