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Renamed company's $4.2bn murabaha facility has lifted Saudi banks
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
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General syndication has started for CRM (Hong Kong) Holdings, the overseas investment platform of China Railway Materials Company, which is seeking $200m from the loan market.
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Figures from Greater China have been a disappointment so far this year, with loan volumes not only down from last year but also standing at the lowest level year to date since 2009. With many issuers ditching syndication in favour of clubs, all eyes are now solely on pricing — with expectations high among bankers that margins will climb up.
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Indonesia’s CT Corp has wrapped up syndication of its $1.275bn fundraising, netting commitments worth $555m from a group of 19 banks.
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Hong Kong-listed Citic Pacific hit the market with a HK$8.8bn ($1.13bn) loan on the evening of March 17, with bankers on the transaction expecting a quick turnaround from lenders considering the deal in syndication.
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Suntec Real Estate Investment Trust has started speaking to banks for a loan north of S$800m ($632.2m), roughly three months before some of its debt falls due.
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Eastern Sugar Company (Nuran Sugar) is set to sign a loan worth E£1.5bn ($217m) with 10 banks. The deal is expected to close in mid-April, according to Walid Hassouna deputy general manager and head of Islamic banking at Bank Audi