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HSBC, Mizuho and Standard Chartered coordinated deal which drew 10 lenders
Deal comes 11 years after the company's previous loan and was extended by two banks
Saudi Arabia mining firm furths relationships with international banks following a $1bn sukuk in January
First Abu Dhabi joins the syndicate for the short term loan all but equalling the size of a previous revolving facility
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Bharti has drawn a commitment in the senior syndication phase of its $7.5bn acquisition financing, proving the deal can generate demand in spite of pricing levels that some bankers argued would be too tight for the loan to be a blow-out in syndication.
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India’s Reliance Industries has got its first commitment for a $1bn loan which already has 14 mandated lead arrangers, showing the continued appetite for Indian borrowers from global lenders.
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Oil group TNK-BP has lit up Russia’s loan market by asking banks for a $750m facility, set to be the first major unsecured deal from the country this year. Such is the appetite for top-rated Russian corporate assets that bankers say TNK-BP could price tighter than state-owned peer Gazprom-Neft, which recently launched a $1bn loan, and still raise double that amount.
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Asia’s leveraged loan bankers had cause for cheer this week as private equity firms Texas Pacific Group and Carlyle agreed to buy private healthcare provider Healthscope.