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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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Turkey’s financial institutions continued to attract large syndicates to participate in their loan deals this week. VakifBank secured 29 lenders for its dual tranche deal signed this week while Akbank netted an impressive 48.
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The first deal of the year for an Azeri borrower, International Bank of Azerbaijan, has been signed after attracting commitments of $53m and Eu5m and being increased from $36m.
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Arrangers are set to close the books on Qatar Telecom’s forward start today, after the deal proved to be a runaway success in general syndication — and despite a five month delay in coming to market. The borrower has raised over $3bn in commitments, but will be taking no more than its $2bn target, allowing for hefty scale backs.
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Croatia’s Bank for Reconstruction and Development, known as HBOR, is taking the unusual step of tapping the Schuldschein market for a Eu150m deal. The move comes after it pulled an international bond issue in June.
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Turkey’s VakifBank netted 29 lenders for its dual tranche deal signed on Wednesday, as the country’s financial institutions continue to succeed in hauling in the large syndicates typical of their ventures in the loan market. Secured at an all-in margin of 250bp, Vakif’s $203.5m and Eu372.5m facility is set to be followed by another wave of bank refinancings, some of which could now be priced tighter.