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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
Divisions deepen over multilateral development banks’ climate commitments
Deal rules and slow primary market make ramping up deals difficult
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US cash machine maker Diebold, which is acquiring German peer Wincor Nixdorf, has increased the size of its euro and dollar loans and tightened their spreads, amid an improving investor mood in the leveraged loan market.
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Hong Kong-based commodities trader Noble Group is back in the market for a $1bn loan to refinance outstanding debt. But the company is paying up dearly for the fundraising as it battles scepticism around its sector and the state of its financials. Shruti Chaturvedi reports.
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ONGC Videsh has sent out a request for proposals for a $1.268bn nine month loan facility, as the international arm of Oil and Natural Gas Corp seeks funds for the acquisition of a stake in oil fields in Russia.
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Rather than cherry picking its favourite banks for its $10bn sovereign loan, the Kingdom of Saudi Arabia will “pull together a handful of banks” to get the deal done, according to a banker in discussions with the sovereign.
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The Reserve Bank of India has rolled back some rule changes governing international borrowings by non-bank financial companies (NBFCs) and infrastructure firms, allowing issuers to access the foreign currency offshore debt market once again.
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UniCredit has named the new co-heads of its international financial sponsor solutions team, which houses its leveraged finance business for sponsors, following the promotion of David Vials to head of corporate coverage UK.
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