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Emerging Market Loans

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  • Energy trading company Vitol Asia put its refinancing plans into motion this week, launching a $1.7bn 364 day revolver which it is has opted to arrange on its own.
  • Asian banks and international lenders have submitted proposals to work on a $203m loan for Pelabuhan Indonesia III, which will comprise two facilities. Banks are also gearing up to work on a $1bn deal for Pelabuhan Indonesia II.
  • India’s Rural Electrification Corp lit up the loan market on Monday by launching its $180m five year fundraising into syndication, pricing it at 170bp over Libor.
  • Indonesia Eximbank has pushed the go button on its $600m fundraising, launching it into syndication on Tuesday evening, with the leads splitting the loan into two tranches.
  • The Ethiopian government is due to sign a $900m loan by mid-May to fund a railway line from Awash to Weldia in the north of the country.
  • A three-member Chinese consortium is acquiring Las Bambas copper project in Peru from Glencore Xstrata, in an acquisition valued at $5.85bn and partly financed by a syndicated loan from Chinese banks.