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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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The CEEMEA and Latin America bond markets have made a slow start to December with no international bonds from either region yet printed. Instead all hopes rest on an African sovereign still on the road.
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Sekerbank will become the first Turkish bank to make use of the European Bank for Reconstruction and Development’s Trade Facilitation Programme (TFP), having agreed a $50m trade facility.
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Kuwaiti oil company Kufpec has signed a $1bn five year term loan with a syndicate of banks.
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HSBC is to see a senior departure from its loans business in the United Arab Emirates.
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Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing has seen about 13 banks join with nearly $940m in commitments, said a banker. Allocations for the deal are due to be out soon.
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African loans are set for a busy run to the end of the year, say bankers, with a number of deals likely to come in December, while others will spill over into the first quarter of 2015.