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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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Standard Bank is in the market for two loans, a $750m deal for Standard Bank of South Africa and a deal for its Kenyan subsidiary, Stanbic Kenya, according to bankers.
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Despite the flimsy state of Europe's high yield market, its sister leveraged loan business remains vibrant, and this year is the most open of the four main leveraged finance markets: bonds and loans in dollars and euros, writes Max Bower.
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Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.
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Action, the Benelux non-food discount retailer, has allocated its €1.2bn dividend recap and refinancing facilities at an impressive margin in volatile market conditions.
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One of the four lenders on Tata Communications’ latest $250m club loan is selling down some of its hold, launching the trade into syndication at four levels.
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Indian refiner Hindustan Petroleum Corp (HPCL), which in December picked five banks to supply a $465m 21 month refinancing, is set to open the transaction to retail lenders next week.
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