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Emerging Market Loans

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  • Alternatifbank, a mid-tier Turkish financial institution, has approached banks for its annual spring refinancing facility.
  • African emerging market issuers have been quick out of the blocks after the UK public holiday on Monday, with First Quantum Minerals, which has operations mostly in Zambia, and Nigeria’s Diamond Bank announcing roadshows.
  • A group of seven banks are tipped to win the mandate for Pelabuhan Indonesia II’s $1bn five year loan, which when finalised, will launch into syndication.
  • New Hope Singapore, the overseas investment arm of Chinese agribusiness New Hope Liuhe (NHL), signed its debut $100m syndicated term loan at the end of April as the company looks to expand its options for raising capital offshore.
  • Malaysian pension fund Kumpulan Wang Persaraan opened up a £250m ($423.2m) five year loan into syndication this week, with Australia and New Zealand Bank as the sole bookrunner and mandated lead arranger.
  • At a time when many borrowers are moving towards club loans over syndication as a way to obtain cheaper pricing, Beijing Enterprises Holdings is going against the tide. It has opened up a HK$3bn ($387m) loan to lenders, marking not only its return to the syndicated market after a four year gap, but also a change in strategy since its last fundraising.