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Saudi Arabia mining firm furths relationships with international banks following a $1bn sukuk in January
The Prague-based defence and technology firm attracted 18 institutions into a deal which compressed margins by 150bp
Sleeping SLLs clause enters template as compressed margins make borrowers reluctant to deal with verification costs
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Investment grade syndicated loan volumes in Europe have plunged almost 45% year-on-year, as the Covid-19 coronavirus tears into demand for bank credit. -
Imperial Tobacco signs new RCF, no plans for drawdown — British Airways stretches dollar revolver maturity — Fiat Chrysler bridge loan in place as HY remains shut — Shell builds cash pile again with $12bn revolver
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London-listed UAE payments company Network International has refinanced an existing loan, raising $525m from regional and international lenders.
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Dyson has become the first UK company to sell private placements in the past month, as the coronavirus complicates primary issuance and the market instead focuses on amendments to existing deals. Sources said the UK manufacturer succeeded because it was realistic over the price it would have to pay.
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Turkey’s Akbank has refinanced a syndicated loan with tighter margins than its existing facility, as lenders demonstrate unwavering appetite for Turkish debt.
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Rising dollar funding costs for Taiwanese banks have made them push an existing borrower back to the negotiating table so that they can demand better returns on a loan. More worrying than the triggering of the market disruption clause, however, is the volatility that forced the move.
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