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ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
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
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Uralkali, the Russian potash fertiliser producer, has added a further $25m to a recent loan agreement, which it had already increased by $100m last week. -
Africa’s Ecobank Transnational, the parent company of the Ecobank Group, has hired the chief executive officer of Citi’s sub-Saharan Africa division to lead its business.
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Haitong International Securities has made a rapid comeback in the offshore syndicated loan market, launching an HK$2bn ($258m) three year into general syndication on June 5. The borrower, which wrapped up its last fundraising only in April, has shaved the margin by 20bp since then.
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Egypt has added impetus to its drive to renew its energy and other infrastructure, say bankers, with several big financing deals in the works to fund projects.
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Oilfield equipment provider Hilong Holdings has launched a $100m loan into general syndication. Two banks are arranging the loan for the company, which made its debut in the offshore syndicated loan market in 2013 and has visited annually since.
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Real estate developer Vietnam Investment Group Joint Stock Co (VIG) has attracted banks from several geographies, with a policy bank from China, and a prominent Malaysian lender among those said to have committed. The deal has been well received in the market as banks look to build a longer term exposure to the fast developing southeast Asian country.
