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The US$68mn five-year export credit facility for TNB Coal, arranged by Standard Chartered and Noble Trade Finance, has attracted an oversubscription after two banks committed to the facility and a further eight banks showed a strong interest in joining.
Banks will earn a margin of 225bp over Libor. Fees are set at three tiers: co-arrangers 87.5bp for takes of US$15mn; lead managers 57.5bp for injections of US$10mn-US$14.9mn; and managers 37.5bp for pledges of US$5mn-US$9.9mn.

Proceeds are to finance 80% of TNB Coal’s acquisition of Dynamic Acres, a company with exclusive marketing and mining rights in Malaysia .