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Six tranche loan attracts record demand
Bonds of energy importers have sold off, but investors convinced fundamentals are still strong
New methodology follows headroom created by S&P revision last year
Banks ready to do deals but wiser to wait
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Bharat Petroleum Corp (BPCL) has extended the deadline for responses to a $150m request for proposals sent in mid-March.
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China Huiyuan Juice Group has sealed a slightly larger than planned syndicated loan of €160m with four banks. A few more lenders are still set to join, which will further bump up the fundraising, according to a source.
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Shui On Development has hit the syndications market for a $150m three year borrowing guaranteed by parent Shui On Land. The firm is the latest name to tap the bond and loan markets in quick succession.
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Automobile parts maker Zhongding Hong Kong has wrapped up its latest syndicated loan at €200m ($217m), higher than the launch size of €150m, as 14 lenders chipped in.
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Russian Railways, a regular issuer in the bond market, has made a return to syndicated loans by signing a $420m club deal at the end of last week, according to a banker on the trade.
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Another Turkish refinancing is underway, with Ziraat Bank’s syndication due to close this week, according to a banker on the deal.