Emerging Markets - All Articles

  • MUFG hires from Mandiri for senior DCM job

    MUFG Securities Asia has hired Shailesh Venkatraman for a newly-created position leading DCM origination for south and southeast Asia.

    • 30 Oct 2020
  • Gaw Capital in talks to buy Cityplaza One, raise new loan

    Private equity firm Gaw Capital Partners is in talks with banks for a new borrowing to support its potential acquisition of Cityplaza One, a commercial office building in the heart of Hong Kong.

    • 30 Oct 2020
  • BlackRock, JP Morgan, Citi finance firms risking Amazon destruction

    Outrage at the destruction of the Amazon rainforest — which often involves dispossessing indigenous people — is common among capital markets executives. But few realise that their own firms are financing it.

    • 29 Oct 2020
  • Hexaware take-private loan sealed, delisting imminent

    Indian software firm Hexaware Technologies has wrapped up a $600m loan to fund its take-private by Baring Private Equity Asia.

    • 29 Oct 2020
  • Hengli, Gaw look to boost old loan size by HK$1.45bn

    Property company Hengli Group and real estate-focused private equity firm Gaw Capital Partners are taking advantage of a recent regulatory change in Hong Kong to increase a loan closed last year.

    • 29 Oct 2020
  • Formosa to mandate six banks for $2bn loan

    Formosa Plastics Corp has shortlisted six banks to arrange a multi-tranche financing for its Vietnam business.

    • 28 Oct 2020
  • Standard Bank gets Chinese loan in shrunken market

    South Africa's Standard Bank, which is 20% owned by ICBC, has raised a syndicated loan from a consortium of Chinese lenders. The transaction marks one of the few spots of activity in a market that has almost halved in size this year.

    • 26 Oct 2020
  • Scepticism clouds Ukraine’s hopes of securing IMF disbursement

    Analysts believe optimism over the IMF disbursing funds to Ukraine this year is unfounded, as the country is struggling to fulfil the conditions it has to meet to be granted the money.

    • 26 Oct 2020
  • Vedanta returns loan, redeems bond after failed delisting

    Metals and mining company Vedanta Resources has returned a $1.75bn loan and redeemed a $1.4bn bond after its plan to delist its Indian subsidiary failed to attract enough support.

    • 23 Oct 2020
  • Country Garden wraps up $1.5bn loan with 16 banks

    Chinese property developer Country Garden has closed a $1.5bn-equivalent dual currency loan, attracting seven participants during syndication.

    • 23 Oct 2020
  • Asset World, Everbright raise green loans

    Thai hospitality firm Asset World Corp and Hong Kong’s China Everbright Environment Group both tapped the green loan market this week.

    • 21 Oct 2020
  • MMG gets $800m loan for Peru mine

    Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.

    • 21 Oct 2020
  • PLN scraps $300m loan on government support

    Indonesian state-owned electricity company Perusahaan Listrik Negara has cancelled a $300m loan, after receiving a capital injection from the government.

    • 21 Oct 2020
  • Sembcorp bags S$100m Sora-linked loan

    More Singaporean companies are making the transition to a new local currency benchmark rate in preparation for the end of Libor, with Sembcorp Industries becoming the latest firm to raise a loan linked to Sora.

    • 20 Oct 2020
  • Pan Brothers under pressure to meet loan refi

    Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.

    • 20 Oct 2020
  • ANZ promotes Corrin to corporate finance head

    Veteran loans banker John Corrin has been promoted to head of corporate finance, international, at ANZ, a newly created position that will give him oversight of a larger business.

    • 20 Oct 2020
  • VPBank Finance makes quick return for $150m

    VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has made a rapid return for a $150m loan.

    • 19 Oct 2020
  • Akbank secures loan at competitive rates despite crisis

    Turkey’s Akbank has raised a $700m one year syndicated loan. The deal was priced at 250bp over Libor and 225bp Euribor.

    • 16 Oct 2020
  • Millicom dials in ESG facility as Lat Am turns greener

    Millicom International Cellular, the Luxembourg-headquartered telecoms company, has refinanced its main bank credit line with one linked to environmental, social and governance metrics. It claims this is one of the first such deals for Latin America through its reach into the region.

    • 16 Oct 2020
  • Inventec boosts loan to $500m

    Taiwan-based notebook computer maker Inventec has increased the size of its revolving loan to $500m after attracting 11 participants during syndication.

    • 16 Oct 2020
  • Ukraine hopeful of unblocking $5bn IMF loan amid legal rows

    A legal ruling that appears to cast doubt on the independence of Ukraine’s anti-corruption unit has delayed a loan from the IMF and comes in the wake of a row over a decision to ‘reprimand’ two independent members of the country’s central bank

    • 15 Oct 2020
  • Mideast borrowers boost Asian loan market

    Two Middle Eastern borrowers are tapping the Asian loan market as part of a new syndication strategy, taking advantage of the slow primary supply in Asia.

    • 15 Oct 2020
  • BB Energy brings in new lenders for annual refi

    BB Energy, the UK headquartered energy trading company, has signed a $197.5m syndicated loan, with the borrower increasing the size of its lending group and committing to build on new banking relationships.

    • 13 Oct 2020
  • Sina taps both onshore and offshore for take-private loan

    Sina Corp, a Chinese internet firm that owns social media platform Weibo, is seeking a $2.08bn borrowing from onshore and offshore borrowers. It plans to use the money to delist from the Nasdaq.

    • 13 Oct 2020
  • SEWA woos banks for $250m loan

    Sharjah Electricity & Water Authority (SEWA), a state-owned firm in the United Arab Emirates, is making a rare appearance in the Asian syndicated loan market with a $250m borrowing.

    • 12 Oct 2020
  • Sustainability disclosures delayed as regulators admit legal clash

    The European Commission has bowed to lobbying by investors and delayed compelling them to follow the detailed requirements of the Sustainable Finance Disclosure Regulation — a complex reporting task that is ill-matched with another EU rule, the Taxonomy of Sustainable Economic Activities.

    • 09 Oct 2020
  • BoCom HK adds Yip to loans team

    Bank of Communications has hired Raymond Yip to its loans team in Hong Kong.

    • 09 Oct 2020
  • Most companies yet to get going on switching loans from Libor

    Almost two-thirds of companies are still not prepared for the transition away from Libor, as lenders in London say they are in “intensive” discussions with clients and NatWest writes to thousands of corporate clients about the switch to risk free rates.

    • 08 Oct 2020
  • Indian loan market shows signs of revival, but faces challenges

    Indian borrowers are finally returning to the offshore loan market after months of little to no action. But even as a pipeline builds, bankers remain wary of challenges around execution. Pan Yue reports.

    • 08 Oct 2020
  • Sheng Ye seeks debut offshore RMB loan

    Sheng Ye Capital, a Hong Kong-listed financial services provider, has made its debut in the syndicated loan market. It is raising funds in offshore renminbi.

    • 07 Oct 2020
  • EU puts CEE eyes on green but smaller sovs could struggle with green bonds

    Hungary wasted little time in turning this year’s increased external funding needs into an opportunity to expand its green bond plans. Yet though sustainability is quickly climbing the list of priorities in Central and Eastern Europe, not all countries are likely to hop on the green bond wagon

    • 06 Oct 2020
  • CEE economies well placed to resist second wave risks

    Fears of another spike in coronavirus cases are dampening optimism that Central and Eastern European economies would charge out of recovery. But a strong starting position and the EU’s huge support packages mean the region is better placed than most

    • 06 Oct 2020
  • KPC taps loan market with Kuwait locked in debt talks

    State-owned Kuwait Petroleum Company has raised a syndicated loan from local lenders worth $3.27bn equivalent. The deal is one of the few major financings to take place in the Middle East during the coronavirus pandemic, and comes at a time when Kuwait faces critical economic challenges.

    • 06 Oct 2020
  • Reliance nets $1bn from loan market

    Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

    • 06 Oct 2020
  • International SOS makes loan debut

    International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.

    • 06 Oct 2020
  • OVL mandates six for $700m loan

    ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.

    • 05 Oct 2020
  • Bold banks to set first Science-Based Targets

    The long-awaited Science-Based Targets standard for financial institutions has arrived. It is one of the most ambitious attempts so far to wrest the financial sector from its path towards climate destruction.

    • 01 Oct 2020
  • African bank duo tap lenders despite higher costs

    Trade and Development Bank and Standard Bank, have approached lenders to raise syndicated loans, despite the sort of price widening that has pushed many borrowers away from the loan market this year.

    • 01 Oct 2020