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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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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. The deal, widely tipped to be a one-off from the country this year, was oversubscribed by almost 70% in syndication.
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Las Vegas Sands, the US firm that runs Macau's biggest casino, has agreed to increase the margin on a $3.3bn syndicated loan by 325bp in return for covenant changes that will allow its Macau unit to raise more debt and list in Hong Kong.
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Slovenia’s Abanka Vipa has received a strong response to its Eu50m syndicated loan, including from Asian lenders, which bankers are hopeful will lead to other central and eastern European borrowers tapping the market before the end of the year.
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Russia’s United Company Rusal, which is the final stages of a $17bn restructuring, insisted this week that its local lenders would not derail the process and would accept much the same terms as international banks. Oleg Mukhamedshin, the aluminium group’s director of capital markets, also told EuroWeek that Rusal would not sell any of its key assets, including its 25% stake in Norilsk Nickel and would instead reduce its debt through a long-delayed initial public offering.