The wind farm is being developed with a tier 1 supply chain comprising Seaway Heavy Lifting (SHL), Subsea 7, Nexans and Siemens.
The sponsors – AES and Grupo Motta – have also approached development banks and ECAs – including the IFC, IDB, Kexim and DEG Bank – for a potential second tranche of debt. If that facility goes ahead, commercial bank takes are likely to be reduced.
De Laat joined Rabobank 10 years ago as global head of TCF energy.
The pre-export loans have been pooled into a $1.07 billion five-year loan (final maturity 30 June 2021).
Not only is it Afrexim’s largest ever issue and bookbuilding, the bond came in vastly oversubscribed, demand tightening pricing by 37.5bp
The refinancing has been put in place early to take advantage of lower interest rates and the new deal has a “substantially lower margin” according to the borrower.
The new funding package streamlines and refinances existing borrowings and will provide working capital for export growth.
De Haldevang has spent more than 30 years in the insurance industry, focusing on credit and political risk, war, terrorism and political violence.
The company’s strong performance has meant that pricing remained static at 200bp above Libor despite the volume increase.
Ang has been promoted to head of energy and project finance loan origination and Poot has been appointed director of commodities loan origination.
Bladex was the sole lead arranger and bookrunner for the loan.
Indonesian textile manufacturer Delta Dunia Sandang Tekstil is out to the lending market with a term loan and revolver package which will be secured by the borrower’s fixed assets inventory and textile machinery.
BNDES has agreed to repay BRL100 billion to the Brazilian Treasury to help reduce the country's fiscal deficit.
The deal will be the ECA’s first loan since 2007
Commodities trader Gunvor Singapore has closed a $1.041 billion dual tranche revolver, upping its initial borrowing amount from $750 million after a 40% oversubscription.
The funding will part finance expansion of the borrower’s UK and international distribution footprint.
The deal backs development of high-speed telecoms network infrastructure and features a Uganda shilling portion equivalent to $74 million and a $40 million dollar-denominated tranche.
The 30-year DBFOM public-private-partnership concession is for a 27km section of motorway (D4) between Jarovce and Raca and a 32 km expressway (R7) connecting Prievoz and Holice.
The deal refinances existing debt raised by the Canadian subsidiary and comes with a parent company guarantee
The loan is backed by an anticipated tanker shipment of 22000 tonnes of crude oil.