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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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China International Capital Corp (Hong Kong) has made its debut in the offshore syndicated market, with a $150m three year term loan that launched into general on December 8.
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Shanghai listed textile dye maker Zhejiang Longsheng Group (Lonsen) has raised a $300m loan from a club of seven banks, said a banker on the deal.
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Cosmetics packaging company HCP Global's $360m dividend recapitalisation loan for sponsor TPG has attracted commitments worth $96m from five banks.
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Quanta Computer subsidiary Quanta International is in the market with a $700m loan to refinance a $660m facility it sealed in 2010.
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Marafiq, a Saudi utility service provider has signed a SR2.5bn ($666m) Islamic loan to expand its existing operations and fund future activities.
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Two Chinese borrowers are in the market with Taiwan targeted loans. China Packaging and Phoenix Healthcare Group have recently launched borrowings, seeking a total of $350m between them, said bankers away from the deals.