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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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European banks are continuing to cut their exposure to Middle East financial institutions, with five deciding against rolling over their commitments to a facility for National Bank of Fujairah. Two non-European banks also dropped out, but with three new firms joining the group, the $235m two year loan was still a success for the borrower.
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New World Development has approached a select group of banks with a HK$2bn ($256.6m) facility, the borrower’s first syndicated loan in over three years.
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Turkey’s Akbank has opted to refinance only the one year tranche of a $1.2bn one and two year loan signed last summer. That is likely to lead to similar decisions form other Turkish banks.
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India’s Infrastructure Development Finance has allocated a $200m loan after attracting five banks to the deal in syndication. Four Taiwanese lenders and one Thai bank signed up, despite tight pricing that threatened to derail the deal.
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A club of 11 banks has provided Abu Dhabi investment firm Waha Capital with a $505m three year term and revolving credit.
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The African Export-Import Bank has signed a two year loan for just over $400m. The transaction was split between a $282.5m tranche and a Eu112.75m tranche.