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Emerging Market Loans

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  • Chinese hotel chain 7 Days Group Holdings had been planning to launch its $120m five year loan into senior syndication early last week, but after hitting what bankers said were a few admin hiccups, the deal was delayed. But the leads are now planning to push ahead with the deal before they leave for the Easter holidays.
  • Dubai Aluminium and Mubadala are due to sign a $3.4bn multi tranche loan for their Emal 2 aluminium smelter on Tuesday.
  • Russia’s GeoProMining has signed a debut $250m five year pre export finance facility from a club of banks.
  • Kazakh mining firm Eurasian Natural Resources Corp (ENRC) has approached banks for a $700m loan, just one month after signing a $500m deal.
  • Luxury resort operator Kerzner International Hotels has signed a syndicated loan to refinance $145m of debt, reducing interest costs and extending its debt maturities to five years.
  • Banks in central and eastern Europe (CEE) are likely to spend 2013 suffering from a high level of bad loans and compressed margins, according to a Standard & Poor’s research note issued on Monday.