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Former investment banker has been CFO of Verbund
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Global syndicated lending fell back in 2019 to a level similar to that in 2013-2016, in dollar terms, after two years of higher borrowing including a near-record total in 2018. The volume was the sixth highest ever, and higher than that in any year before 2006. -
Damien Loynes has been appointed head of syndicate for Europe, the Middle East and Africa at Crédit Agricole.
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Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have exercised part of a greenshoe option on their joint borrowing, boosting the loan size to $525m.
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Etihad Airways has signed a €100m loan linked to the UN’s Sustainable Development Goals. The deal is one of the latest ESG-linked financings signed in the Middle East, which is developing an appetite for sustainability-linked debt.
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Ericsson, the Swedish telecoms equipment group, has signed a $150m credit facility, which it will use to research and develop 5G technology.
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Banks have been warned that their tardiness in switching away from the Libor benchmark could leave them open to compensation claims, similar to those that followed the UK's £50bn scandal of banks mis-selling payment protection insurance. However, bankers involved in the process say they are working hard to complete the transition.
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