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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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The Australian arm of Jindal Steel & Power is in the market for a $630m dual tranche loan, with two banks at the helm. The deal comes shortly after another Jindal family company — JSW Steel — successfully completed a $250m capital expenditure facility that drew several international lenders.
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Chevron Nigeria will hold a meeting with banks in London on Monday next week as it looks to build commitments for a $1.2bn loan.
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A panel set up by India’s Ministry of Finance to review the rules for companies borrowing money from overseas has made the radical suggestion of doing away with the current system and immediately liberalising the regime. Such an approach is likely to be too much of a shock to the country’s financial system. The government would be wise to adopt a more gradual approach.
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Albaraka Turk has agreed a $268m Islamic syndicated loan with a group of banks, a bigger deal than it had previously indicated.
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PTT Global Chemical’s French subsidiary VencoreX Holdings has wrapped up €190m ($215.65m) dual tranche seven year loan. The deal, which has Deutsche Bank as sole bookrunner, was signed among six banks, said a banker.
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A loan backing Danube Foods’ buy-out by Mid Europa Partners could close by next week, say bankers on the deal – but there is no hurry.