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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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Finnish construction company Lemminkäinen has amended the terms on a €185m credit facility, two months after breaching the loan's net debt to Ebitda ratio covenant.
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UK infrastructure investment firm Foresight Solar Fund has signed a £100m acquisition facility with three banks.
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Australian telecommunications company Telstra Corp has opened up a A$1.5bn ($1.4bn) three year loan to the market, in what is the group’s first syndicated loan since May 2009.
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Cement manufacturer Holcim Indonesia is speaking to banks for a loan to the tune of Rph2tr ($175m) as it seeks to refinance some of its outstanding debt.
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Gallant Venture, which is in the market to refinance debt taken on for acquisitions, is considering reducing its loan to around $175m from the launch size of $410m, having sold two Singapore dollar bonds in April and May.
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Agricultural products supplier Olam International has secured a 364 day bridge loan worth $2.22bn, managing to increase it from the $1.5bn target it had approached lenders with. Despite the low starting all-in pricing in the sub 100bp over dollar Libor area, bankers were not put off thanks to the company being the acquisition target of Temasek Holdings.