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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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Banks are working on a competitive new $1bn three and five year loan for mall and supermarket operator Majid Al Futtaim Holding (MAF), in a further sign of the continued reopening of the Dubai loan market. DP World’s holding company Ports & Freezone World has also launched an $850m five year loan (see separate story).
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DP World’s parent company, Ports & Freezone World, has mandated Citi, Deutsche Bank, Emirates NBD and HSBC to arrange its $850m five year refinancing loan.
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Despite Moody’s downgrading several Slovenian banks by three notches in June, Nova Ljubjanska Banka (NLB) has signed a Eu350m two year new money loan with a ratings-linked margin grid. NLB said that the new loan paid a margin of 150bp.
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State-owned Hindustan Petroleum Corp has approached banks with a $300m loan, the borrower’s second dollar deal in the last six months. But HPC is offering banks a premium on its last deal that it hopes will make it stand out from other Indian borrowers.
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Chinese telecommunications company ZTE Corp has signed a $900m dual tranche loan after four banks joined the deal in general syndication, allowing the borrower to increase the size of the loan for the second time.
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A lack of ancillary business from Russian oil producer TNK-BP over the last 12 months is prompting loans bankers to push back against the borrower’s attempts to cut the margin on its new $1bn four year loan.