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Tight spreads keep Middle East borrowers in bond market, and away from loans
Kazakh bank doubles the tenor to two years compared to previous deals
Tighter margin loan a 'sign of things to come' for infrastructure lending
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ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing. -
Inland Homes, a UK housebuilder, has triggered an accordion clause on a sterling loan to finance extra construction, as lenders say there are signs that companies are using money to invest again rather than firefight the effects of Covid-19.
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The long-awaited Science-Based Targets standard for financial institutions has arrived. It is one of the most ambitious attempts so far to wrest the financial sector from its path towards climate destruction.
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As CLO spreads have rallied towards pre-Covid levels, some CLO managers have come to market with their second new issues since the pandemic first hit, taking advantage of loan prices still largely under par to ramp new issues quickly. But the new landscape is missing some of the market’s most well-known managers, and there’s a stubborn tail of pre-Covid warehouses still to shift.
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Bank of America has promoted Jeff Tannenbaum, its head of debt capital markets and leveraged finance EMEA, to head of global capital markets for the region.
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Trade and Development Bank and Standard Bank, have approached lenders to raise syndicated loans, despite the sort of price widening that has pushed many borrowers away from the loan market this year.
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