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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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Electricity Supply Board, the Irish power company, has amended and extended a €1.44bn loan facility with Intesa Sanpaolo and Santander joining the syndicate for the first time.
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Qatar National Bank has mandated international banks for a $3bn loan, its first dollar facility since 2012.
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South Africa’s Investec Bank closed a $400m three year loan on Friday, after increasing the size of the deal from an initial $300m on oversubscription.
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Shenzhen listed Xuzhou Construction Machinery (XCMG) has returned to the market for a dual currency fundraising of $130m. The deal is offering lenders comfort in the form of a guarantee from China Export and Credit Insurance Corp (Sinosure).
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Tentative allocations are out for Indonesian oil and gas company Pertamina’s five year fundraising. The loan has been closed at a size of $1.747bn, with the dozen banks at the top that prefunded the money managing to sell down as per expectations, said bankers close to the transaction.
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China International Capital Corp (Hong Kong) has enjoyed success with its debut offshore syndicated loan, managing to increase the deal size to $250m from $150m, with 23 banks joining during general syndication.