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Deutsche enters banking syndicate, ING and Commerz sit out of fresh transaction
Having to rate money-guzzling Anthropic and OpenAI will test the agencies’ nerve
Banks back increase of the offer's cash component for Tim by almost a fifth as uptake lags
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China National Chemical Corp (ChemChina) has approached banks for a $5.5bn two tranche borrowing to help refinance a $12.7bn acquisition loan signed last September. -
Swiss food and drinks company Nestlé extended and replaced €11bn worth of one and five year loans on Wednesday.
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French laundry group Elis has entered the Schuldschein market in the hope of refinancing part of a bridge facility used in its £2.2bn acquisition of UK rival Berendsen.
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Oman Electricity Holding Co (EHC) has launched its second loan this year as part of its plan to raise $2bn across six of its subsidiaries.
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Chlorvinyls firm Inovyn, a subsidiary of chemicals group Ineos, was on course to shave 150bp from its 2024 term loans in a repricing on Thursday. But market participants warned that the trade betrays signs of a lack of discipline in the market.
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Cornerstone investors are becoming increasingly common in overseas loan syndications, especially those involving Indian borrowers. While some may argue that this goes against the true purpose of syndication, which is to spread risk, loans bankers believe the change is for the better as it introduces borrowers to sturdy lenders for future funding needs. Shruti Chaturvedi reports.
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