Stemcor, the UK-based steel trader, cheered the commodity finance market with a US$480mn renewal of its revolving credit facility. The new loan is US$80mn more than the company hoped to raise.
Syndicated lending to Central and Eastern Europe, the Middle East and Africa has fallen by 78% year-to-date compared with the same period in 2008, according to Dealogic.
Bankers are hoping renewed Eurobond issuance from emerging market sovereigns like Abu Dhabi and Qatar will open the door for EMEA corporate bond issues.
African oil explorer Tullow Oil has managed to secure a massive US$2bn worth of new reserve-based debt facilities, based on its success in uncovering world-class oilfields in Africa in the past three years.
In late February, the Dubai government issued a US$10bn bond, which was entirely subscribed by the UAE central bank, in a sign that the debt-laden Emirate is receiving greater federal support.
New capital markets leader to focus on activities across Europe and Asia Pacific.
Nigerian bank revamps management team with four appointments.
Bank promotes Jonsson to global head of loan syndication as Cracknell announces retirement.