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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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Air China asked banks to submit bids on a HK$5.25bn ($677m) loan by last Friday secured on its stake in Hong Kong flagship airliner Cathay Pacific, highlighting the rapid return of borrowers to the loan market. -
Japanese beer and soft drink manufacturer Kirin Holdings launched a ¥80bn ($800m) loan last week that pays a margin of less than 10bp for three years, in a sign that pricing for Japanese borrowers is shrinking to levels not seen since the onset of the credit crunch.
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The Egyptian General Petroleum Corporation (EGPC) is in the market with a $900m pre-export financing launched last week, and led by Bank of Tokyo-Mitsubishi UFJ and Morgan Stanley. During the one-stage syndication process, lenders will be offered tickets of $100m.
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Arrangers of a $175m facility for MDM Bank, the Russian privately-owned lender, are fine-tuning details on fees and tickets this week as the deal nears launch in early September. The five lead banks, mandated on Tuesday, will be testing the loan market’s appetite for Russian bank risk in the first such syndication this year.
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The $1bn underwritten facility for Angolan oil champion Sonangol is oversubscribed, however, bankers say the deal could take longer than expected to close as the arrangers are waiting on last-minute commitments which have been delayed by the August holidays.
