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Volume dips only slightly despite there being a third fewer transactions
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
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Chinese state-owned grain trader COFCO is inviting banks to pitch for a $3.2bn syndicated facility, as it aims to fund its recent partnership with Noble Group while simultaneously repaying a shareholder loan. But coming at a time when the Hong Kong Monetary Authority (HKMA) is cracking down on lending to Chinese companies, the less than appetising margins on offer have led to varied responses among lenders.
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International Container Terminal Services Inc (ICTSI) launched a $250m five year revolving credit facility into general syndication on May 22, making it the first issuance under the Philippine company’s $1bn loan programme.
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Coal miner Adaro Energy Indonesia is seeking a loan of up to $1.25bn to refinance outstanding debt, as part of its measures to deleverage its balance sheet.
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Indian mining firm Vedanta Resources has signed up three lenders to provide it with $1bn via two separate facilities, having started talks with banks for a loan of between $500m and $1.2bn two months ago.
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Cement manufacturer Holcim Indonesia is speaking to banks for a loan of about Rph2tr ($175m) as it seeks to refinance some of its outstanding debt.
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Azerbaijan's Demirbank has approached banks for a loan, as syndication bankers tip the largest state in the Caucasus to become a small but active financial institution loan market.