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Strong appetite from international banks for first gigascale 24/7 solar plant
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
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Indonesian tower company Solusi Tunas Pratama’s latest borrowing has received $185m in commitments. The deal, which will refinance what is left of a bridge it sealed with five banks in December last year, is due to close imminently. -
Three banks have sent out invitations for a $300m four year facility for Indian mortgage lender Housing Development Finance Corp. The loan, which was prefunded by the leads, is offering a yield of below 130bp in general syndication.
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India’s Reliance Utilities and Power has upped the size of its borrowing to $300m from $225m for the final allocations. The facility saw Middle Eastern, European and Indian lenders come in for the big tickets.
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Afren, the troubled oil exploration company, has avoided imminent bankruptcy with a $200m lifeline credit facility. The money injection follows a tense restructuring process in which two Nigerian banks dictated terms to a group of global financial giants, writes Olivier Holmey.
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Turkey’s Halk Bankasi (Halkbank) has nearly completed syndication for its $807m one year loan, according to banker on the deal.
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Vietnamese companies have made a splash in the loans market in recent months, with borrowers from the banking and property sectors heading offshore for funding. And they have managed to raise their latest financings at a much lower cost than previously, taking advantage of abundant liquidity and an improving domestic macroeconomic outlook, writes Shruti Chaturvedi.
