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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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Det Norske — Mærsk — FirstGroup
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Danish shipping and oil and gas group AP Møller-Mærsk has signed a $5.1bn revolving credit facility from 21 banks to refinance debt early.
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UK public transport group FirstGroup has signed an £800m refinancing loan.
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Petronas’ subsidiary Malaysia International Shipping Corp (MISC), which approached banks for a loan in March, has increased the size of its fundraising to $1.55bn from the original $700m, opting to arrange the deal on its own as a club.
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Indian company NTPC, previously known as National Thermal Power Corp, is seeking a $250m offshore loan and has issued a request for proposals to banks.
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India’s Power Finance Corp has mandated three banks for a $250m five year fundraising, which has been in the works since the start of the year.