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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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Caesars Entertainment, the US casino operator, is in advanced talks to buy UK gambling company William Hill for £2.9bn in cash. The deal will be financed with an equity raising by Caesars of about $1.7bn and a new $2bn non-recourse loan, secured on William Hill's non-US assets. It may be the start of a cascade of M&A. -
Singaporean agribusiness Olam International has become the latest borrower in the country to offer a loan linked to the Singapore overnight rate average (Sora), a new benchmark.
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CIE Automotive, the Spanish automotive components company, has signed a €690m syndicated loan, with the borrower switching its main bank line to a facility linked to environmental, social and governance (ESG) measures.
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Icelandic state owned energy company Landsvirkjun has sold $150m of US private placements under its green finance framework.
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China’s Minth Group, an auto parts company, has closed its debut loan at a bigger size of $200m.
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Fannie Mae’s and Freddie Mac’s drive to buy floating rate loans that reference the secured overnight financing rate is charging up a nascent market in interest rate caps that reference the Libor replacement.
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