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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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Nigerian telecom towers group IHS continues to progress well with an $800m loan and should sign it within the week, bankers say. But there is mounting concern about the prospects for Nigerian financial institution and oil-related loans after fears rose of a default by Afren. -
Stanbic Uganda will hold a signing ceremony this week for its debut syndicated term loan facility, which bankers involved say has been oversubscribed.
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In the latest twist in the saga of port services provider Pelabuhan Indonesia II’s $1bn loan, the borrower has decided to scrap general syndication and limit the deal to $550m which had already been prefunded by the seven banks leading the transaction.
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Kingboard Laminates Holdings has raised the size of its latest facility to HK$4bn ($516m) from HK$3bn, as existing lenders piled in to the deal, which pays better returns than a 2014 loan by the borrower. The dual currency loan netted HK$2.59bn in the Hong Kong dollar tranche and $181.6m in the US dollar tranche.
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Hong Kong's Hutchison Whampoa has engaged HSBC as M&A adviser as it seeks £6bn of loans to buy UK mobile phone operator O2 for £10.25bn ($15.4bn) from Telefónica of Spain.
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Taiwanese computer casings maker Casetek’s $300m three year financing has attracted five banks in syndication.
