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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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Financial institution Akbank is back in the market with a loan that bankers say will kick start the year’s second wave of Turkish bank refinancings and set the benchmark for pricing.
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Ahead of the EU publishing the legal acts in its official journal late on Thursday, there has been growing talk among bankers that syndicated loans will be excluded from Europe’s sanctions against Russia. But two senior London based loans officials said that even without specific loans language, it was unlikely to make any immediate difference to banks’ reluctance to lend. -
Chinese state-owned conglomerate Citic has returned to the market with a $1bn dual tranche loan, picking eight banks as mandated lead arrangers and bookrunners.
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7 Days Group Holdings has closed its fundraising at $300m, fully exercising a $50m greenshoe, as the deal was oversubscribed thanks to relationship banks piling in.
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Integrated oilfield services provider SPT Energy is in the market with a $100m facility that is being arranged by China Citic Bank International.
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Taiwan Cement Corp’s $1bn loan, which launched into syndication at the beginning of July, is expected to go up in size after getting a great response. Ten banks have already committed to the deal and 10 more are processing their approvals, according to bankers.
