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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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Carnival Corp, the largest cruise line in the world — badly stricken by the impact of coronavirus on its business — raised €425m and $775m of 5.5 year bonds on Wednesday, which will be subordinated to the $6.25bn of bank loans and senior secured bonds it issued in June and April respectively. -
Copenhagen Infrastructure Partners, the Danish renewable energy investor, has signed a €380m green loan to finance a wind farm in Spain, as analysts say renewable energies are now cheaper for consumers than their fossil fuel counterparts in major markets.
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The Asia Pacific Loan Market Association is encouraging banks to look at ways to move towards a new lending benchmark as Libor transition looms. It has published a guide for lenders in the region.
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Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.
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The European Bank for Reconstruction and Development is launching the second phase of its Green Economy Transition approach and hopes to help policymakers make the recovery from the coronavirus pandemic a green one. But critics say its plans are little more than “business as usual” and that even the activities it classes as green sometimes have weak environmental credentials.
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HIG Capital has appointed a new head of HIG WhiteHorse Europe, the private equity firm’s European direct lending affiliate.
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