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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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Aster DM Healthcare is close to sealing a $280m multi-tranche syndicated loan, with three or four lenders already committing to the deal. -
The influx of Chinese M&A into Europe has brought the terrifying task of evaluating the credit risk of clandestine Chinese state-owned enterprises — but the loan structures used so far protect lenders from the unknown.
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Commodities trader Trafigura has tightened pricing by double digit basis points on its European loan refinancing and expects to raise more than $5bn, according to sources.
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Mexican cement firm, Cemex has persuaded its banks to change the leverage covenants on its $1.9bn credit facility after its business suffered in the wake of exchange rate volatility and crashing oil prices.
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Jefferies has reorganised its leveraged finance division, with two senior managers understood to have left the firm.
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This week Sharjah Islamic Bank (SIB) launched its $200m murabaha loan, which offers all-in pricing of 240bp for top tier banks — welcome fodder for regional lenders, which face growing funding costs.
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