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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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Another round of EU sanctions is looming over the Russian loan market and, even with Russian company EuroChem signing a loan this week, the most bullish of loan bankers are losing faith that new money deals will come anytime soon. -
Bankers are uncertain of the future of a $750m-$850m loan that was meant to fund Shanda Games to go private after four sponsors pulled out of the consortium for the buyout and three new names formed a group.
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The Reserve Bank of India has revised its offshore borrowing rules, making it easier for companies to refinance loans overseas. But at the same time it has placed restrictions on Indian bank participation. The fallout is already being felt, with one Indian lender having to step away from the loan for Reliance Jio, and some bankers expect the loss of liquidity offered by Indian banks to push up pricing, writes Shruti Chaturvedi.
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Russian fertiliser maker EuroChem has signed a $750m eight year syndicated loan with banks, shaking off concerns about the escalating conflict in Ukraine and talk of a new round of European sanctions on Russia that could formally include loans. But bankers said EuroChem was an exception, rather than a signal for new Russian lending.
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Mobile phone maker Xiaomi launched its $1bn dual tranche loan into general on Tuesday afternoon, following a successful senior phase during which 17 banks joined for the bookrunner and mandated lead arranger title.
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Jiu Ding International and Dynamic Apex Macao Commercial Offshore, subsidiaries of Taiwanese notebook casings maker Ju Teng International, have sealed a $200m triple tranche three year financing.
