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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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Two banks have collectively committed around $30m to Indomobil Finance Indonesia’s $100m three year loan ahead of the June 23 deadline, which is now likely to be extended.
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Taiwanese computer and appliance company Tatung has wrapped up syndication of its NT$4.4bn ($146m) four year revolving loan with commitments in from 10 banks.
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A $500m component of Indian mining firm Vedanta Resources’ $1bn fundraising has had a targeted launch into senior syndication, according to a banker.
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Petronas subsidiary Malaysia International Shipping Corp (MISC) has received sufficient commitments for its $1.55bn club loan, with eight to 10 banks set to come on board.
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A multi-billion dollar project finance facility for Gazprom, the Russian state-owned gas firm, to develop the Yamal gas field has been delayed because of the intricacies of putting together such a big deal, and not because of the Russian diplomatic crisis, according to senior loans bankers.
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The $120m three year loan for the international arm of Taiwan’s Chailease Finance launched into syndication last week, with the deal priced at 140bp over dollar Libor.