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Non-bank lenders seem more confident than banks in the short term
New facility smaller than the original but 20% larger than the launch amount
In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
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Aperam, the steel producer headquartered in Luxembourg, has entered the Schuldschein market, on the hunt for at least €100m.
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Investment grade loans bankers are eagerly awaiting the start of September to see if much business comes their way, though at the moment there is an overwhelming sense that the final quarter will be as drab as the rest of the year has been. -
Sunac China Holdings has raised a $280m loan term from five lenders.
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China introduced its new benchmark rate, the loan prime rate (LPR), over the weekend, with the first rate published on Tuesday. The reform, which aims to help companies lower their funding costs, is likely to boost the onshore market but will make the already slow offshore market even more difficult.
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Albaraka Turk Participation Bank and the Islamic Development Bank have signed a $40m Islamic financing facility to support small and medium enterprises in Turkey.
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Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.
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