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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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Singapore-based wastewater treatment company Hyflux has returned to the loan market for a $300m triple currency refinancing.
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The head of loan syndications at Bank of Tokyo-Mitsubishi UFJ has resigned to join another bank.
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Pendragon, the UK car dealer, has refinanced its debt, issuing a private placement and signing a new unsecured club revolving credit facility that cut its margin by a hefty 85bp.
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Element Materials Technology, the UK product testing firm, and Vermaat Groep, the Dutch hospitality contractor, have replies due Tuesday for their respective buyout loan packages.
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Sharjah Islamic Bank (SIB) is raising a murabaha loan which was launched at $200m but will grow far beyond that size, according to a banker on the deal.
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Kuwait National Petroleum Company is in talks for $10bn of loans which have been in the pipeline for almost a year, although syndication has not taken off yet.
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