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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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Indonesian power company Pertamina, which sent out a request for proposals for a $1bn loan in September, could increase the size of its borrowing by $500m or more after it received a strong response from banks.
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The Swiss-headquartered oil trader Vitol has signed $7.5bn of revolving credit facilities to refinance $7bn of loans signed in October 2013 and for general corporate purposes. The syndication was launched at $5.5bn and brought in some $8bn of orders.
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Hungarian oil and gas firm Mol has told banks it has received more than enough interest in its proposed $500m-$1bn loan to proceed with the deal, after the deadline for submissions expired last week.
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Deutsche Wohnen, the German residential property company, has agreed loans totalling €1.36bn with two German banks, completing a €1.76bn refinancing process that began with its €400m seven year convertible bond issue at the beginning of September.
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Mobile phone maker Xiaomi’s $1bn dual tranche loan has netted commitments from seven lenders that made it in time for the loan’s early bird deadline in general. These banks will earn an early bird fee of 15bp for getting commitments in by October 6.
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K Wah International has wrapped up its HK$3.85bn ($497m) financing for a construction project in Hong Kong with a club of five banks.