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Grandiose construction plans are having to be scaled back as Saudi borrowing rises, but the main point is social progress
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Chong Hing Bank’s head of structured finance has resigned, according to a source close to the move. -
Metals tycoon Anil Agarwal has made a possible offer to take full ownership of Vedanta Resources, the London-listed mining company, for 825p a share, as UK M&A continues to drive a sharp increase in lending in the currency.
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Garanti Bank International (GBI) has cut the size and price of its self-arranged annual syndicated loan, with the Dutch arm of one of Turkey’s biggest lenders raising $185m.
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Creditors to retailer Steinhoff have agreed to give the scandal-hit company an extra three weeks to provide a debt restructuring plan, two days after the company said it would not be able to hammer out a deal in time for the initial June 30 deadline.
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Hangzhou Steam Turbine & Power Group is seeking a new $100m offshore borrowing.
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Health and Happiness International Holdings, previously known as Biostime International Holdings, is seeking an up to $350m loan through Goldman Sachs.
