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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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Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is considering increasing the size of its borrowing to $350m after receiving commitments well over its target amount of $200m. -
Akbank signed its $1.2bn-equivalent loan on Friday - one of its two major annual refinancings. But although Turkish banks are paying more for dollar debt at the moment, European banks still like to lend in euros.
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Lundin Petroleum, the Swedish oil and gas exploration company, has increased the size of its reserve-based bank facility and signed a short-term credit facility agreement to protect itself from further oil price volatility.
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Gategroup, the airline food services company, has increased the size of a revolving credit facility after an amendment operation, giving the company greater financial headroom.
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Ball Corp, the US metal packaging manufacturer, has signed $4.15bn of debt facilities backing its $6.4bn acquisition of Rexam, the UK can manufacturer.
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Tupras, the Turkish oil refinery company, has refinanced a one year loan, receiving a greater share of commitments in euros compared to the 2015 deal. But uncertain views of Turkish corporate borrowers means the pipeline visibility remains low, according to one banker on the deal.
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