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Eighteen year facility backed by EIFO comes as interest in energy infrastructure mounts
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
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Statoil, the Norwegian oil and gas company, has signed a $5bn revolving credit facility which received strong demand from banks, despite the company's sizeable first quarter loss.
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GarantiBank International, the Amsterdam subsidiary of Turkey’s Garanti Bankasi, has closed a $260m-equivalent one year loan.
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Australian property developer Lend Lease and Abu Dhabi Investment Authority subsidiary HIP are in the market for a fundraising of S$2bn ($1.49bn) for a project in Singapore. The loan marks a rare syndication in the Singapore market, which has been dominated by clubs, said bankers.
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Commodity traders Mercuria Energy Trading and BB Energy had a moderated appetite for bank debt in their refinancing deals this week but loan bankers don’t expect all commodity traders to keep such a cool head in future.
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The competition in the investment grade loan market this week was merciless, as Santander was announced as the third and final lender in IAG’s €1.4bn loan to buy Aer Lingus.
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Constantia —Nokia — BB Energy — Ferrero — Kernel