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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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Two Chinese borrowers are in the market with Taiwan targeted loans. China Food Packaging and Phoenix Healthcare Group have recently launched borrowings, seeking a total of around $250m between them, said bankers away from the deals. -
Eden Capital Management, a subsidiary of Chinese conglomerate Founder Group, is tapping the loan market for a $150m three year financing that has one bank as the lead.
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South Africa’s Standard Bank has signed a $700m three year term loan, while Nigeria headquartered Africa Finance Corporation looks set to close general syndication of its $300m deal by Friday.
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This year saw Middle Eastern banks provide some diversity in retail liquidity, opening their books to syndicated loans for Chinese and Indonesian names after having long been contributors to deals from India’s oil and gas sector. But their appetite could well be rocked by the precipitous decline in oil prices, as their deposits are heavily reliant on the natural resource, writes Shruti Chaturvedi.
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UniCredit Leasing Croatia has obtained a €30m loan from the European Bank for Reconstruction and Development. This will support the access of small and medium-sized enterprises to lease finance for equipment, light commercial vehicles, trucks and trailers.
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A $3.2bn piece of Tata Steel’s $5.6bn multi-trancher has attracted a whopping $1.089bn in commitments during general syndication. The response follows a successful senior phase, which saw eight banks pile in.
