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Emerging Market Loans

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  • Two Romanian windfarm projects have secured a total of €188.2m in financing from the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and a group of commercial lenders.
  • Multilateral financial institutions have signed a deal to provide $164m in loans to finance the overhaul of Rift Valley Railways Investment’s Kenya-Uganda railway network.
  • Rural Electrification Corp has launched a $300m loan into syndication, becoming the latest in a long line of India state-owned companies to tap the loan market.
  • Profesional Telekomunikasi Indonesia (Protelindo) proved the wisdom of syndication strategy this week, sealing a $482.3m dollar and rupiah loan in a market better known for club deals. Bankers hope more syndications will now follow as several telecoms companies bid to buy towers from local titan Indosat.
  • Russian aluminium producer Rusal has expanded the bank group for its $4.75bn five year refinancing and is set to launch the loan into syndication this month.
  • Russian mineral fertiliser producer EuroChem has signed its $1.3bn five year pre-export finance (PXF) loan. Bank of America, BTMU, Barclays Capital, BNP Paribas, Citi, Crédit Agricole, HSBC, ING, Natixis, Nordea, RBI, RBS, SMBC and ZAO Raiffeisenbank were mandated lead arrangers and bookrunners on the deal.