Metalloinvest, a large iron ore producer in Europe and Commonwealth of Independent States (CIS), has mandated BNP Paribas and Deutsche Bank to arrange a US$1.2bn syndicated pre-export finance facility. The facility will be used to refinance existing indebtedness, including the US$1.6bn term loan facility signed in July 2008), and for general corporate purposes, including trade finance.
The tenor of the facility is five years and benefits from a margin set on the basis of a debt to earnings before interest, taxes, depreciation, and amortisation (EBITDA) ratio. It is anticipated that the mandated lead arrangers and bookrunners will launch syndication in the second half of February 2011.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.