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Emerging Market Loans

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  • Indonesian power company Navigat Energy has started marketing its $270m fundraising in general, after netting four commitments in senior syndication.
  • Taiwan Cement Corp International, the Hong Kong-listed unit of Taiwan’s largest cement manufacturer, has sent out a request for proposals for a loan of $1bn, as it seeks to refinance the bridge loan it took in November last year to fund the purchase of shares in fellow subsidiary TCC International Holdings (TCCIH).
  • Agribusiness Wii, a fully-owned subsidiary of Wilmar International, has launched its $1.75bn loan into general syndication, opting for a larger initial size than the last time it came to the market. But if the response is any similar to its loan from 2013, the borrower is likely to boost its loan size further, according to bankers.
  • Sean Joseph, former head of syndications for Australia at ANZ, has been promoted to head global loans, Asia for the bank with immediate effect, according to an internal memo seen by EuroWeek Asia. He will relocate to Singapore in February.
  • Abu Dhabi Equity Partners has set up Brazil’s first Shariah compliant livestock finance programme, worth $25m.
  • Turkish event-driven corporate loans estimated to total more than $2bn have been postponed as public protests continue to rage in the country.