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Emerging Market Loans

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  • CEE
    Trans-Oil Group, a Moldovan agriculture company, is planning to roll over its one year pre-export finance (PXF) facility this summer, having recently sold its lowest coupon bond. The issuer has had, on occasion, far from a smooth ride in capital markets, including a failed attempt at a bond debut in 2018.
  • Veteran banker Ronny Chng, from United Overseas Bank has passed away, according to an Asia Pacific Loan Market Association announcement.
  • AAA Oils and Fats, the trading subsidiary of palm oil company Apical, has returned to the loan market with a $750m facility.
  • The Singapore-incorporated global energy company Puma Energy has bounced back after a planned bond issuance last year failed to materialise, raising $590m in the loan market. Sources say the company’s change of management and reorganisation brought a “sense of relief”.
  • SRI
    Crédit Agricole has struck a new synthetic risk transfer deal with the International Finance Corporation, in which it will shed about 90% of the risk on $4bn of emerging market trade finance loans. The IFC expects to use securitization more to help banks in developing countries cope with the effects of the coronavirus pandemic.
  • Hong Kong jewellery company Chow Tai Fook has returned to the loan market for its annual borrowing.