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Emerging Market Loans

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  • China’s Home Inns & Hotels Management has two commitments worth $45m for its $240m acquisition financing, which will be used to buy local rival Motel 168. Funding officials from the company met potential lenders on a roadshow last week, and the leads are deciding how much of the deal they want to sell down.
  • Australian gold producer Newcrest Mining raised $1bn in the international bond market at the start of the week, making its public bond debut after moving to bring its debt maturities much closer in line with its assets.
  • FIG
    Syndication of a one year refinancing deal for Turkish financial institution Sekerbank was launched on Monday. The dual-currency deal, which has a 364 day extension option at the discretion of the lenders, offers an all-in margin of 170bp for top-ticket participation.
  • South African mining and exploration firm Optimum Coal has agreed a R2.2bn ($276m) revolving credit facility to finance the purchase of prospecting rights for thermal coal at sites in South Africa.
  • Russian telecoms company Vimpelcom has expanded its bank group on its $500m dollar and euro loan to include several new lenders.
  • French tyre maker Michelin has launched a W683.8m ($613m) share sale in Korea’s Hankook Tire, and plans to sell its entire stake in the company after Hankook hit an all-time high.