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Emerging Market Loans

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  • FIG
    Turkish financial institution Finansbank is having trouble convincing lenders to act as co-ordinators for its $500m one year loan, according to several bankers familiar with the deal. The role has so far been turned down by BTMU, Standard Chartered, WestLB and Wells Fargo.
  • You can almost hear the tumbleweed rolling across the investment grade market at the moment. While there is plenty of refinancing to be done (and there’s so much churn happening that we might end up with another EU butter mountain), nobody’s hopes are high that we’ll be able to cram in another huge BHP-style situation before Christmas.
  • SSA
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  • Heinz Noeding is the new global head of structured export finance at Standard Chartered. He replaces Charles Carlson, who has been appointed chief executive officer of Standard Chartered Libya.
  • Saudi Aramco, the world’s biggest oil company by reserves, will set a new low for loan pricing in the Middle East when it launches a $4bn refinancing deal. Bankers say the bank group will resemble the make-up of the previous lenders.
  • Russia’s third biggest coal exporter, SDS Ugol, will launch a $150m five year amortising loan into syndication on Friday, according to a banker close to the deal. It follows fellow Russian coal miner Suek, which has tested the retail market and met a tepid response (see separate story).