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Deal refinances €1.5bn transaction from 2022 while providing new money and is sustainability-linked
Volumes and deals similar to last year, when the market grew by 13% year-on-year to an annual record
The German toy production company doubled the size of its RCF but maintained its banking consortium
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Russian companies are showing more interest in euro-denominated loans, as funding in the currency becomes cheaper and as US sanctions complicate borrowers’ access to dollars. Siberian Anthracite is expected to close a loan refinancing with a new euro tranche this week, and at least two Russian borrowers are in preliminary discussions with international lenders. -
A slump in syndicated loan activity in Asia has put pressure on banks to offer juicy terms to borrowers seeking leveraged deals, including lower pricing and weaker structures. But the dearth of issuance won’t last long, leaving just a short window for borrowers to take advantage of.
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Agricultural Bank of China Singapore branch has raised a $200m green loan from seven banks, following in the footsteps of peer ICBC London, which signed a mandate letter for a green loan three months ago.
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Chinese sportswear manufacturer Xtep International Holdings has closed its refinancing loan at HK$1.8bn ($229.5m) with nine banks.
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Hipgnosis Songs, a UK musical intellectual property fund, has signed a £65m revolving credit facility. But it could be one of the last bits of sterling business this year, with loans bankers saying that any sterling deals close to being signed will probably be pushed back to next year.
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Swedish private equity firm EQT confirmed on Monday that it is seeking to list on the Nasdaq Stockholm, becoming the second issuer to announce it aims to test Europe’s IPO market this autumn.
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