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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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Votes are rolling in to decide this year’s winners of the GlobalCapital Syndicated Loans and Leveraged Finance Awards. There is still time to complete the poll, but the deadline is fast approaching.
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Russian private bank Otkritie Financial Corp Bank (formerly Nomos Bank) has surprised the market by beating peer Promsvyazbank to sign a syndicated loan. In doing so, it becomes the first Russian bank to achieve a loan with international lenders since the EU and US imposed a deeper round of sanctions – specifically targeting loans to Russia – on September 12.
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Dubai Parks and Resorts, a subsidiary of Meraas Holding, has announced plans for an IPO of Dh2.5bn ($680m), to fund the construction of a multi-theme park project at Jebel Ali. -
E-commerce firm Alibaba Group, which signed a $3bn revolving facility with four lenders on August 30, has allocated the financing following a limited syndication. The loan, which features looser covenants than Alibaba’s last fundraising, has set a precedent for future financings by the company, as well as for revolving credit facilities in Asia.
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Veteran loans banker David Kempton has taken early retirement from his role at Standard Chartered Bank, where he has been employed since the last 35 years.
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Philippine consumer food and beverage company Universal Robina Corp launched a NZ$750m ($586m) loan for its acquisition of New Zealand’s Griffin's Foods into senior syndication on November 11.
