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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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Swedish call centre operator, Transcom Worldwide, has changed the make-up of its bank group in an otherwise straightforward refinancing deal signed on Wednesday.
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Indian Oil Corp and Bharat Petroleum Corp have launched their respective borrowings, worth a collective $580m, into general syndication. Both are offering the same base margin, but the latter is being generous with its all-ins for new banks.
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SIG, the UK building materials producer, has said it is considering its refinancing options for £130m of US private placement notes maturing in November.
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Chinese e-commerce giant Alibaba Group has mandated eight banks to run its $4bn loan, with invitations to be sent out to lenders soon.
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Aster DM Healthcare is close to sealing a $280m multi-tranche syndicated loan, with three or four lenders already committing to the deal.
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The influx of Chinese M&A into Europe has brought the terrifying task of evaluating the credit risk of clandestine Chinese state-owned enterprises — but the loan structures used so far protect lenders from the unknown.