GTR Trade Finance eNews - Deals October 2008
Finishing touches put to Standard's Nigerian expressway deal
A multi-million financing package arranged by Standard Bank to support the construction of West Africa’s first toll road, the Lekki-Epe Expressway in Nigeria, has been finalised.
Bank Zenit secures syndicated loan in difficult conditions
Russian Bank Zenit has managed to secure a syndicated 364-day loan facility, escaping the fate of a number of other syndicated Russian bank deals that have had to be postponed due to lack of liquidity.
Another Russian syndicated bank deal collapses
A 364-day US$25mn syndicated term loan facility for Probusinessbank has been withdrawn from the market, becoming yet another Russian bank deal to fail to attract enough participants.
Evrofinance Mosnarbank withdraws deal from market
A 364-day US$40mn syndicated term loan facility for Russian bank Evrofinance Mosnar (EVMB) has been withdrawn from the market due to increasingly tough market conditions.
BNPP closes export credit deal for Philippines bridge project
Sole arranger BNP Paribas has signed a €150mn loan facility, backed by French export credit agency (ECA) Coface, to finance the construction of 72 rural and national bridges across the Philippines.
Brazil’s Braskem closes oversubscribed pre-export deal
Brazilian Petrochemical company Braskem has closed a US$725mn pre-export facility.
Bank Petrocommerce secures syndicated deal
GarantiBank International, Landesbank Berlin, UniCredit Bank Austria and Bayerische Hypo- und Vereinsbank (acting under name UniCredit), Standard Bank and WestLB have signed a US$106mn facility for Russia’s Bank Petrocommerce (PCB).
Islamic Development Bank finances Yemen projects
The Islamic Development Bank (IsDB) has signed two agreements with the Republic of Yemen to provide US$21.2mn to finance two water and road projects. The deal was signed at the sidelines of the annual meetings of the World Bank and IMF in Washington DC.
First Capital closes trade first for Asia
First Capital, a financial services firm, has provided a US$30mn unsecured trade payable facility to Hong Kong-based public company Proview International Holdings (PIHL).
Alfa-Bank Ukraine secures dual tranche deal
Mandated lead arrangers and bookrunners Banif-Banco Internacional do Funchal (Banif), BayernLB, GarantiBank International and HSBC have signed a dual tranche facility for Alfa-Bank Ukraine.
Center-Invest closes trade-related syndication
Russia’s Center-Invest has closed a trade-related facility via initial mandated lead arrangers and bookrunners Commerzbank, Erste Group Bank, RZB, and Standard Bank.
Indonesia’s Gresik copper plant refinances
Mandated lead arrangers Mizuho Coporate Bank and Bank of Tokyo-Mitsubishi UFJ have refinanced a US$250mn working capital facility for PT Smelting (PTS) which operates
Millicom wins acquisition deal for Central American expansion
Millicom International Cellular has secured a US$200mn loan to finance its acquisition of Amnet Telecommunications in Central America.
BNPP supports US-China export deals
BNP Paribas has arranged four loan agreements totalling just under US$12mn in support of US exports to China. The loans were jointly arranged by BNP Paribas and China Exim, and two of the facilities were backed by US Ex-Im.
Sberbank signs three-year syndicated deal
Russia’s Sberbank has signed a three-year US$1.2bn syndicated loan.
Severstal set to launch syndication on five-year deal
Russian steel producer Severstal has signed a US$1.2bn five-year pre-export syndicated loan via BNP Paribas; Deutsche Bank; ABN Amro; Bank of Tokyo-Mitsubishi UFJ; Barclays Capital; Barclays Bank (investment banking division); Citibank, Commerzbank, and Société Générale.
Equinox Minerals signs new loan for Zambia’s Lumwana project
Mining company Equinox Minerals has signed a US$80mn loan facility to support additional working capital costs at its Zambian Lumwana copper project.
VTB Bank Austria postpones syndication
VTB Bank has postponed its US$300mn syndicated term loan it launched in September, after the facility struggled to attract participants in the increasingly turbulent capital markets.
