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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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Commodities firm Glencore released its preliminary results on Tuesday, revealing annual losses to equity holders of almost $5bn. The release of the annual report paves the way for the general syndication of the group’s loan after a successful first stage in February.
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A €1.6bn loan for the Czech Republic’s Energetický a Průmyslový Holding (EPH) was so popular that it received enough commitments to close after early bird funding, according to a banker close to the deal.
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As Kuwaiti petrochemicals company Equate decides how to refinance its $6bn bridge loan, the borrower will likely avoid the bond market and stick to loans in the near future, bankers told GlobalCapital.
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A $300m three year loan for Development Bank of the Philippines (DBP) has received commitments from 15 lenders.
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A group of 10 banks is in discussions with semiconductor firm Micron Technology for a NT$80bn ($2.5bn) loan to back its acquisition of Taiwan’s Inotera Memories.
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UK sportswear retailer Sports Direct has announced that it will no longer use its loan from owner, Mike Ashley and instead will draw on its credit facility from banks.
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