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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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Egyptian General Petroleum Corp. is expected to launch senior syndication of a $2bn pre-export financing next week, according to bankers close to the deal. The state-owned borrower mandated JPMorgan and National Bank of Egypt for the underwritten 58 month facility earlier this month, in a process that attracted some criticism from other loans officials across the sector.
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Bank lenders expressed renewed concerns this week that lending to emerging market borrowers will remain muted throughout the second quarter, with borrowers in Russia and the Middle East stalling deals as they wait for margins to fall further. Other borrowers have reduced capex programmes and are so flush with cash they are even prepaying last year’s loans.
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African Export-Import Bank (Afrexim) is to close its $250m loan today (Friday), after the deal reaped a heavy oversubscription during syndication. Bankers close to the facility said the borrower was yet to decide, however, whether to increase the size of the loan.
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Dubai World’s investment unit Istithmar World is trying to raise as much as $350m in staple financing to lure bidders to its UK based transport business, Inchcape Shipping Services.
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Asian loan bankers will increasingly rely on the leveraged finance market to hit their profit targets this year, as pricing on investment grade loans continues to fall, bankers said this week.
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EAST ASIA Bayan adds to Indonesian deal rush with $300m refinancing