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Loan will fund the investment company's purchases of non-oil and gas assets
The facility is being used to drive Saudi investment in industries away from petrochemicals
Bankers uncertain whether trades that didn't cross the line in 2024 will proceed
Company has doubled its relationship banks
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Indian company Tata Steel has returned to the loan market. It is in talks with banks for a £200m ($276m) financing to support its UK business.
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ONGC Videsh, the overseas subsidiary of Indian state-owned Oil and Natural Gas Corp, has launched a $500m loan into general syndication. It is targeting a broad group of lenders for the fundraising, owing to lending caps imposed on banks.
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Indian Oil Corp has mandated three banks for its $500m loan return, after inviting firms to bid for the transaction last month.
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Yunnan Provincial Energy Investment Group, a Chinese state-owned company, has returned to the loan market after three years for a sustainability-linked facility.
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MUFG Bank has tapped David Uy as head of project finance for Asia.
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Hong Kong property developer Sino Group has converted a HK$1bn ($129m) loan sealed last year into a sustainability-linked deal, in line with its goals of embracing ESG across its operations.