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Former investment banker has been CFO of Verbund
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Saudi Arabia's Saline Water Conversion Corp (SWCC) signed a $426.5m-equivalent loan with a consortium of local lenders. The deal comes after a disappointing year for international lenders, who were dismayed at the lower than expected volumes of Saudi Arabian activity. -
Emirates Global Aluminium (EGA) has raised a $600m syndicated facility, which replaces a number of uncommitted bilateral loans.
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The outbreak of the coronavirus has added to challenges in a surprising part of Asia’s capital markets — loan syndications, typically known for being resilient and slower to be hit by global worries. But as Pan Yue reports, new loan launches have been put on the backburner and roadshows are being cancelled. Bankers are expecting more covenant waivers and difficulties in building their client base.
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Bahraini iron pellet producer Bahrain Steel is in discussions with lenders to refinance an existing facility, according to bankers. The deal, some say, is part of a broader trend among emerging market borrowers seeking to secure more attractive conditions.
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Chinese hotel company Huazhu Group, previously known as China Lodging Group, has closed its borrowing of about $1bn with 13 banks.
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Canadian professional services firm WSP Global has signed a sustainability-linked syndicated loan, as the lending structure that allows a proxy green financing for revolving credit facilities pushes into new sectors.
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