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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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Mongolia is seeking up to $500m from its syndicated loan debut and has already received $250m of the funds.
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Western Digital, the US computer data storage manufacturer, had bank meetings Wednesday in London for its $9.5bn loan package, backing its $17bn acquisition of SanDisk.
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In another European healthcare M&A deal, three banks have increased their commitments in a loan which veterinary pharmaceuticals company Dechra will use for a US acquisition.
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Banks must make commitments to the $20bn tranche of ChemChina's Syngenta acquisition loan by March 22, according to a banker on the deal.
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The $150m loan for Africa Finance Corporation is still in the market, although commitments for the loan were due weeks ago.
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The $400m loan for South Africa's Investec Bank will be oversubscribed, despite the bank being put on review for a downgrade, according to a banker on the deal.
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