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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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Promsvyazbank could achieve a one year loan from international lenders of as much as $200m, said bankers on Wednesday, but the price it will pay is still difficult to gauge.
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A £1.35bn fundraising for Phases II and III of the Battersea Power Station project was signed among seven banks on October 28. The loan was split into a £750m facility to fund phase II and a £600m for phase III.
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The CEEMEA bond market is packed full of new issues as a least nine new issuers are confirmed as being on the road marketing new deals.
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Indonesian power company Pertamina, which mandated 12 lenders for its $1.8bn five year loan, will fund a portion of the financing onshore.
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Palfinger, the Austrian crane manufacturer, has raised €105m with a Schuldschein issue that included Asian lenders.
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Promsvyazbank’s attempt to obtain a one year loan from overseas banks will move into its next phase this week. The borrower and banks are due to begin submitting comments on the deal’s draft documents.