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New facility smaller than the original but 20% larger than the launch amount
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
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Maikun Investment Co, an entity under Beijing Automotive Group (BAIC), is borrowing $290m from a five year syndicated loan that opened for retail participation on February 17.
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Indian Oil Corp (IOC) has opened a $300m five year borrowing into general syndication, offering three levels of participation to incoming lenders.
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Swiss commodities trader Ecom is back in the market for a one year revolver, mandating four banks for the $400m borrowing.
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Kion Group, the German forklift manufacturer, has finished a Schuldschein deal that raised almost €1bn, in one of eight Schuldschein trades that were launched or priced this week from a wide range of sectors and regions.
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Neopost, the French postal equipment maker, has returned to the Schuldschein for funding diversification purposes.
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ONGC Videsh (OVL), the overseas investment arm of Indian state-owned oil company ONGC, is tapping the loan market for longer dated debt to replace a bridge raised by one of its subsidiaries.