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Strong appetite from international banks for first gigascale 24/7 solar plant
ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
Deal was three times oversubscribed
International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
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Indonesia Infrastructure Finance, which opened up a $200m loan into syndication in April with the backing of International Finance Corp, has closed the deal at a larger size of $250m after the syndicated portion was oversubscribed. -
Around five banks are processing their approvals to join Chinese hotel chain 7 Days Group Holdings’ $300m five year recapitalisation loan in general syndication, after the company brought in six lenders at the top level.
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Gallant Venture has closed syndication of its three year $166m loan, having reduced it from the launch size of $410m after selling two Singapore dollar bonds in April and May. But despite getting commitments from 23 banks in general, the borrower ultimately chose only four lenders to join the deal.
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Allocations have been finalised for the $1.55bn club loan for Malaysia International Shipping Corp (MISC), a subsidiary of Petronas, with eight banks joining the deal.
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Battersea Power Station, which began holding talks with banks for a sterling loan in early March, has firmed up a £1.25bn ($2.13bn) facility to be arranged by three mandated lead arrangers and bookrunners.
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The Islamic Development Bank (IsDB) has approved financing facilities for various projects in member and non-member countries worth $447m, as the multilateral organisation celebrates its 40th anniversary.
