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Utilities metering company could refinance Schuldschein in coming months
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
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South African bank Investec has chosen to extend the tenor of an existing loan instead of refinancing it, in an attempt to avoid paying the wider margins lenders are demanding as a result of the coronavirus pandemic.
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Pressure on Asia’s loan market has eased recently as funding costs come under control and the Covid-19 spread in China slows down. But bankers hoping for a quick rebound in deal flow should keep their expectations in check.
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Deutsche Bank has set up an inter-disciplinary sustainable finance team in its capital markets group, aiming to be “viewed as [a] market leader on this important subject”, as it senses that clients, including big oil and gas companies, are having increasingly to consider environmental and social issues to access the capital markets.
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US entities of two of the Big Four accounting firms have entered the private placement market. KPMG sold US private placements in early April, according to market sources, while Deloitte is looking to follow suit.
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The UK’s DFS Furniture is in talks with its lending group for an additional credit facility of up to £70m to sit alongside the sofa seller’s main bank line, as companies continue to lean heavily on their lenders to get them through the worst of the coronavirus pandemic.
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Credit Bank of Moscow, one of the few Russian banks to frequently tap the international syndicated lending market, has raised a loan from a consortium of international banks. The deal comes amid an increasing number of Covid-19 infections being reported in Russia, which is now one of the emerging markets with the fastest-accelerating growth of cases.
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