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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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Indonesia’s Bakrie & Brothers moved closer to ending its loan financing woes this week, when domestic rival Borneo Lumbung Energi & Metal agreed to buy a $1bn stake in one of its companies. Loans bankers are now in discussions with Bakrie over the around $345m it still needs to pay back, but they are now likely to roll the loan over.
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Indian manufacturer Bharat Forge went on a roadshow this week, meeting potential lenders to pitch a planned $120m loan. Funding officials from the company met lenders in Singapore and Taipei, and drew more than 20 banks to the meetings.
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Tower Bersama Group will wait until next week at the earliest to close its $200m loan, although the deal has already been underwritten. Three of the loan’s arrangers are planning to sell down around $30m between them.
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African Development Bank (AfDB) hopes to increase the number of A/B structured loans and co-financing deals it executes as it develops its lending strategy.
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Hong Kong bankers warned this week that the prospect of a liquid interbank rate for use as a reference for the offshore renminbi loan market remained a long way off. But even when it is put in place, it may not be the panacea that some are hoping.
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Canada’s Sunshine Oilsands has picked three banks to manage a $1bn listing, and hoped to close the deal before the end of the year. But torrid market conditions could force the company to wait, said bankers.