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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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Bulgaria has repaid a $1.5bn bridge loan to banks after issuing the largest ever euro bond from an emerging market sovereign earlier this month.
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The vast majority of interest in Akbank’s recent loan was for its novel 367 day tranche, say bankers, with the extra margin prompting an exodus from the more familiar 364 day tenor.
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The Reserve Bank of India has issued a paper proposing new limits for Indian bank exposure to a single company or to a group of companies under the same parent. The move comes as the RBI is looking to bring the country’s lenders up to speed with guidelines set out by the Bank for International Settlements in April 2014.
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Banks are working on a bridge financing to back the $615m acquisition of a stake in Siam City Cement by Singaporean company Jardine Cycle & Carriage (JCC).
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Loans bankers are pitching for Sinochem Hong Kong’s refinancing. The tenor for the $500m borrowing will be determined by lender responses, said a banker who received the request for proposals.
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It has been a big week for Saudi loans, with Saudi Aramco closing a $10bn revolver and Apicorp signing $950m worth of Shariah compliant loans.