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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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Newport City Homes (NCH) has sold a £95m private placement to Legal & General, as housing associations soldify their position in the private debt market.
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Green Schuldscheine have been a peripheral feature of the market for the past three years but this seems to be changing, with a billion plus transaction from Porsche and a sustainability linked note from Durr stirring investors into a frenzy. This green turn could have more of an impact for short term market growth than the odd non-European borrower tapping the market.
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Belgium’s Fagron has signed a €375m sustainability-linked credit facility, with the healthcare and pharmaceutical supply company aligning the margin of the facility to greenhouse gas emission reduction.
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Emirates NBD, a Dubai-based bank, has closed its dual-tranche loan at $500m with 15 lenders, increasing it from an initial size of $400m.
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Indonesia’s state-owned oil and natural gas company Pertamina has raised a $1.85bn project loan from a group of 12 banks.
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Commerzbank has appointed its first head of syndicated and leveraged finance, a unit created within its new capital markets division.