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Emerging Market Loans

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  • A $2bn loan for Saudi construction company Saudi Oger is edging towards completion. The deal is split between a $1bn term loan and a $1bn-equivalent Saudi riyal advanced payment facility.
  • FIG
    UniCredit’s Russian subsidiary has decided to reduce the size of its new loan from the $500m facility it is refinancing. Bankers declined to say what size the new transaction will be.
  • VTB will take all of the $2.5bn in commitments it raised from its 14-strong mandated lead arranger group and is set to launch its unsecured three year money deal into syndication.
  • Smart help knows where it is needed, and where it is not. With its traditional areas of operation increasingly able to cope without outside aid, the European Bank for Reconstruction and Development is on the move. Speaking at the bank’s annual meeting in Astana last weekend, Thomas Mirow, the bank’s president, said that it would soon have the capacity to invest up to Eu2.5bn in the Middle East and North Africa region.
  • Qatar’s Gulf Drilling International (GDI) has signed a $430m 10 year and four month loan with three regional banks.