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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
Divisions deepen over multilateral development banks’ climate commitments
Investors and techniques are ready for development banks to scale up securitization rapidly
AfDB hopes to launch multi-issuer securitization this year
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Videocon Hydrocarbon, which has activities in upstream oil and gas, is tapping the loan market for a $75m three year refinancing. An aggressive margin cut compared with the loan the company is refinancing has caught the eye of bankers, especially when its sector and the financial health of its parent is taken into account. Shruti Chaturvedi reports. -
Stanbic IBTC, the subsidiary of Standard Bank also known as Stanbic Nigeria, signed its debut syndicated loan on Wednesday with a mostly Middle Eastern syndicate.
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Commercial Bank of Qatar is in the final stages of syndicating its $800m refinancing. More banks from the region will follow with loans with margins of around 100bp, according to bankers.
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CEEMEA issuers are grabbing swathes of funding this this week. Teva signed one of the largest acquisition loans of 2015 on Monday and three issuers look to be printing bonds before the end of this week despite a difficult backdrop in the Middle East and an end of year slowdown.
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Teva Pharmaceutical Industries “just scraped home” with very tight pricing on the $33.75bn loan it signed on Monday. Only around half the banks invited participated because margins were so tight, said a banker close to the deal.
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More details have emerged on Chinese technology firm Tencent Holdings’ $1.25bn loan that went into limited syndication last week.
