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Emerging Market Loans

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  • General syndication has closed on the Republic of Kenya’s $600m two year bullet loan.
  • FIG
    Bankers have been left reeling after Turkey’s Isbank approached its lending group for a refinancing priced at 135bp — 10bp lower than the benchmark set by Akbank in March this year and which had been adhered to by all top tier deals since.
  • Russia’s UTair Aviation has signed a $45m loan backed by French export credit agency (ECA) Coface in a deal that the borrower claims is the first time an international ECA has guaranteed a Russian airline’s helicopter purchases.
  • Ukraine petrol station operator Okkoskhidinvest has approached IFC for an $85m debt facility as the borrower looks to expand its fuelling station network in Eastern Ukraine.
  • Subsidiaries of Russian gas firm Gazprom have signed a $600m-equivalent one year revolving credit facility.
  • Ukraine has signed a €152m ($187m) 15 year loan from multilateral banks to develop the Dnipropetrovskiy Metropolitan metro line in the southeast of the country.