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Syndicated Loans

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  • The Banking Association of Turkey has set out a restructuring framework for the country’s banks to cut corporate borrowers some slack over loan repayments and credit availability, as the government and financial sector takes steps to limit the fallout from Turkey’s political and economic crisis.
  • LafargeHolcim has returned to the Schuldschein market looking for €300m, across dollar and euro tranches, alongside raising long-dated US private placements.
  • US department store Neiman Marcus’s unsecured bonds and term loan have dipped in trading this week after the company said it was moving its fastest growing online business, MyTheresa, out of the reach of lenders.
  • Ghana Cocoa Board (Cocobod) signed its $1.3bn trade finance facility of Thursday, as the company prepares to start funding purchases for the coming harvest.
  • US firm Global Infrastructure Partners (GIP) took on bank loans totaling around £1.65bn to part finance its acquisition of half a wind farm off the UK coast, with the rest of the debt raised coming from private placements.
  • Frasers Property has sealed the first secured green loan from Singapore and southeast Asia, raising S$1.2bn ($876m). Bankers say this is only the beginning as borrowers in Asia slowly but steadily make the environment and sustainability their top priorities, writes Pan Yue.