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Divisions deepen over multilateral development banks’ climate commitments
Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
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A multi-billion dollar project finance loan for Tengizchevroil (TCO), a Kazakh oil field joint venture, is finally being arranged, said four bankers this week.
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Nynas, the Swedish bitumen and speciality oils producer, has signed €650m of loans in an oversubscribed deal with six banks.
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Amadeus, the Spanish airline ticketing systems group, has signed a €500m revolving credit facility with a group of 12 banks, bringing in two new lenders as two dropped out.
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The £920m loan for Steinhoff’s bid for Darty remains in place, although the South African firm has been outbid by French retailer Fnac.
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It’s that time of the year again in the European high yield market: finally, the single-B, the triple-C and even the unrated credits are racing towards a window of issuance that market participants say heralds a busy second half of the year.
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Standard Chartered has picked a new head of syndicated loans for Africa, after moving its syndicated loans unit into its corporate finance division.
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