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Absa, FirstRand and Standard Bank were MLAs in first deal after private equity exit
Omani oil company has pushed out maturity by a year
Renamed company's $4.2bn murabaha facility has lifted Saudi banks
Volume dips only slightly despite there being a third fewer transactions
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African telecoms firm Econet Wireless Group has signed a $362m facility from development banks to refinance loans and purchase equipment.
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Asian loan bankers have had a torrid time this year, so they could be forgiven for now feeling a sense of schadenfreude at the expense of their peers on bond desks. They have watched their DCM colleagues poach business for much of the year — but they are ready to start bringing business back to their own desks.
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Noble Group has signed a $2.4bn loan, increasing the deal from its original target of $1.5bn after getting big demand in syndication. That was partly down to the company’s willingness to raise its funding levels compared to a deal it signed last year, said bankers.
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The Asian Development Bank (ADB) has participated in its first Shariah-compliant project financing by providing assistance to two wind farm projects close to Karachi in Pakistan. The facility uses two partial credit guarantees worth up to $66m to the Islamic Development Bank ( IDB ).
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General syndication for Glencore Exploration’s $600m loan is expected to sign from a select club of banks by the end of the quarter, said bankers. The loan is for an oil and gas development in Equatorial Guinea.
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The Hong Kong Monetary Authority has scrapped its restrictions on banks’ net open positions of offshore renminbi, giving a shot in the arm to the nascent dim sum loan market. But bankers are still sceptical there will be a big growth in offshore renminbi loans before the end of the year.