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ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
Helaba promoted from MLA to bookrunner while RBC sits out
Deal was three times oversubscribed
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Rusal, the Russian aluminium company, has arranged a 15 year syndicated loan from a consortium of local lenders. Funds will support the development of a smelting project in Siberia, which the company claims is environmentally friendly. -
Jane Fraser, CEO of Citigroup, said on Monday — her first day in the post — that the bank was committing itself to net zero financed greenhouse gas emissions by 2050. It joins major banks such as Barclays, HSBC and Morgan Stanley in having made such a promise.
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The synthetic risk transfer market helped some of Europe’s biggest banks dodge loan losses last year, with Barclays saving more than £300m and Deutsche at least €150m. But the backdrop last year led to investors taking a tougher line on writing new credit protection, steering clear of pools with limited disclosure and hoping to dodge the most damaged sectors.
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McColl’s, the UK retailer, has amended and extended £167.5m of bank debt in part to relax covenant requirements, as banks are still being called upon to be lenient with borrowers a year after the coronavirus pandemic started.
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Intermediate Capital Group Enterprise Trust, a UK private equity investor, has signed a €200m loan facility, a month after the company’s parent refinanced its sterling facility.
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Singapore real estate company United Industrial Corp has raised a $300m loan comprising both green and sustainability-linked tranches, adding further momentum to the nascent asset class in Asia.
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