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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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General syndication on Ghana Cocobod’s annual one year trade finance loan was oversubscribed and the borrower may take an increase. Senior lenders, however, would prefer if the company stuck with the $1.75bn target for the deal because it is already larger than the 2010 deal.
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Enough new lenders have committed to Commercial Bank of Dubai’s $400m three year refinancing for the borrower to consider increasing the size of the deal. The oversubscription comes despite almost half of the existing bank group confirming to EuroWeek that they will not participate in the transaction.
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A group of seven banks is close to signing the mandate for Metinvest’s $1.2bn five year pre-export financing loan. Deutsche is co-ordinating the deal while BNP Paribas, ING, Natixis, RBS, WestLB and UniCredit are expected to sign at the senior level.
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Indian oil firm Essar Energy has launched its $1.5bn three year secured revolver into senior syndication.
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Kazakh energy credit KazMunaiGas (KMG) is set to close general syndication on its $1bn five year refinancing on Friday or early next week. The deal is oversubscribed with the bulk of commitments raised in the senior phase. But the borrower will not take an increase, according to loans bankers.