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In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
Market stress so far confined to consumer credit and SMEs across region
Tighter margin loan a 'sign of things to come' for infrastructure lending
Helaba promoted from MLA to bookrunner while RBC sits out
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GlaxoSmithKlein, the UK pharmaceutical company, has refinanced dollar and sterling loans using risk-free rates, in one of the biggest transactions yet to avoid using Libor as the margin benchmark.
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Messe Frankfurt, the German trade fair company, has signed a €150m loan facility, as it begins holding physical events again after they ground to a halt in the first half of 2020.
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Icelandair, the flag carrier airline of Iceland, has gained the final major approval it needs for a government-backed loan, setting up the company for an imminent share sale and loan funding totalling about $247m-equivalent.
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CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.
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Alcentra, the European subsidiary of BNY Mellon Investment Management, has appointed a new CEO. David Forbes-Nixon will step down to focus on his investment responsibilities.
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Wayne Hiley has retired from his position of head of UK debt structuring in Barclays’ corporate banking division.