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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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Turkish loans and leveraged finance bankers are savouring a new mergers and acquisitions-driven boom in the face of political and market turmoil. Over $1.5bn of deals have already been completed since late December, with more set to follow and others in prospect if the lira’s battering attracts new corporate bargain-hunters, writes Olivier Holmey.
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Less than two weeks after syndication closed for the Islamic Republic of Pakistan’s $172.5m loan, the country is diving straight back into the market — this time with a $300m 18 month deal.
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After a quiet January, the Russian syndicated loan market looks ready to burst into life before the end of the quarter, as loans bankers are working on up to three times as many deals as they were pitching for this time last year.
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Union Bank of Nigeria — Oando M&A — Global Ports acquisition funding — Oschadbank, Metinvest and DTEK
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Bankers have renewed criticism of Turkish legislation that prohibits a company from buying its own shares using an advance, loan or security.
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Mezzanine debt financing is still miles from being considered a fully functioning asset class in Turkey, according to lawyers speaking at the fourth annual Turkey Acquisition Finance and Private Equity Forum in Istanbul.