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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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Borrowers in the Gulf Cooperation Council are likely to come to rely more on Asian and regional lenders if a funding gap caused by deleveraging European banks occurs, said Moody’s in a report issued on Monday. But European bankers have warned that GCC firms must follow the pricing lead shown by Russian names if they want to continue attracting syndicated loans.
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Philippine beer maker San Miguel Brewery showed the huge difference in liquidity between bond and loan markets in Asia Pacific last week, when it raised around $467m from its domestic debt market — and prepared to pay back a $300m loan that does not fall due until the start of 2015.
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Turkey’s Akbank pulled in 43 banks to sign its annual refinancing facility on Tuesday after lifting its pricing by 45bp from last year’s loan.
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Russian coking coal miner Raspadskaya has agreed a two year non-renewable credit line worth up to $300m from Sberbank.
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Shariah-compliant investment firm Arcapita has filed for Chapter 11 protection in the Southern District of New York under the US bankruptcy code. Filings were also made for several of its affiliates, including Arcapita Investment Holdings Ltd.
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Ghana’s national cocoa board Cocobod has sent out a request for proposals to raise $1.75bn for its annual pre export finance (PXF) facility. The annual trade finance blow-out is regularly oversubscribed, as banks clamour to lend to the company.