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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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Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing is progressing well, with the deal already receiving $750m worth of commitments, said a banker. Nine banks have committed so far and a handful more are expected to join before close. -
Saudi Kayan, a Saudi Arabia petrochemical company, announced this week that it had signed a murabaha facility with National Commercial Bank and Samba Financial Group.
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United Internet — Vimpelcom — Geberit
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Promsvyazbank this week signed a $120m-equivalent loan with international lenders. Although a smaller size than some bankers expected, the deal was warmly received following a similar sized deal for Russian peer Otkritie Financial Corp (formerly Nomos Bank) last week.
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African loan bankers have picked up the pace as the window to complete deals before the end of the year starts to close. Among others, Liquid Telecom has come to market, while South Africa’s Standard Bank is looking for its second deal of recent months.
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The European Bank for Reconstruction and Development and the Clean Technology Fund have created a $350m financing facility aimed at boosting investment in energy efficiency improvements in Turkish homes, to help residents in the country reduce their energy bills.
