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Emerging Market Loans

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  • Metalloinvest, the Russian steel manufacturer, has extended the maturity of a revolving credit facility on better terms and boosted its size.
  • Sogo department stores operator Lifestyle International has firmed up the bank group for a HK$9bn ($1.16bn) loan to finance a project on a plot of land it acquired last year.
  • The list of investors that came aboard a $69m loan for Air India has been revealed. The company launched general syndication in October and brought in new lenders at the end of last year.
  • The sovereign wealth fund of Oman is seeking to establish relationships with regional banks in Asia through a $600m syndicated loan to fund its acquisition of a stake in Oman Telecommunications.
  • International banks want quick answers from the Kenyan government on the status of its loan from Eastern and Southern African Trade and Development Bank (PTA Bank), which has threatened their bigger syndication for the sovereign just as the mandate is being finalised.
  • Star Energy is borrowing $1.9bn via two facilities for its acquisition of Chevron’s assets in Indonesia, as strong early interest from banks revealed plenty of available liquidity for M&A into the country. Loans bankers expect more action from the export-oriented nation, following the recovery in commodity prices. Shruti Chaturvedi reports.