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Deal was three times oversubscribed
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
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Akbank set a template this week that bankers hope Turkish peers will seek to emulate by closing Turkey’s first standalone three year term loan since 2006.
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Plummeting Chinese stocks and a slump in commodity indices rattled Asian markets and global credit traders this week, but loan bankers and emerging market bond officials were unfazed – even while some admitted that the problem could end up hurting their markets. -
South Africa’s Investec Bank has completed a $200m new money term loan, in its second deal of the year after a $400m refinancing in February.
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Akbank has closed its ground-breaking three year loan at $275m – only slightly bigger than its initial $250m target – but an accordion feature means this could grow further.
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Singaporean chipmaker Stats ChipPac has moved one step closer to restructuring its debt as it prepares for a takeover by Jiangsu Changjiang Electronics Technology (JCET). And a $500m syndicated loan arranged by Barclays, DBS and ING is on the cards as part of the acquisition.
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Bharat Petroleum Corp (BPCL) subsidiary Bharat PetroResources has sent out a request for proposals for a $125m borrowing. The proceeds of the loan are for capital expenditure in Brazil, according to a banker who received the invitation.
