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Emerging Market Loans

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  • Australian employment website Seek has increased its loan to around A$770m ($692.1m) from the planned A$565m, after seeing enough demand from lenders in syndication.
  • Asia Pacific Boiler Corp is seeking a $300m standby line of credit to fund its proposed acquisition of Million Place Investments. Separately, Brightoil Petroleum, which is acquiring Kerr-McGee China Petroleum, is also funding some of its acquisition via bank loans.
  • Kreuz Holdings, a Singapore-listed subsea services provider to the offshore oil and gas industry, is close to wrapping up its $275m five year loan, which will help fund the buyback of its shares by holding company SEA9.
  • The Middle East syndicated loan market has finally fired up its engines after Commercial Bank of Qatar signed the first deal in the region this year, according to Dealogic data.
  • Victory City International has received commitments for its HK$1.5bn ($193m) loan. While the transaction is not yet oversubscribed, more banks are set to join and there are now talks on increasing the final deal size by roughly HK$300m.
  • Malaysia’s AmBank has closed syndication and finalised allocations for its $300 three year loan, with signing scheduled for sometime this week.