Loan week, September 5-11
A roundup of the latest syndicated loan market news.
A $350 million 5.7-year reserve-based leading facility for Apache PVG has been launched into general syndication via mandated lead arrangers BNP Paribas and HSBC.
The structure of the deal comprises a two-year construction phase, where the parent company Apache Corp is the guarantor, and an amortising term loan, with an average life of 4.5 years. The margin is priced at 75bp over Libor during the construction period and is tied to a ratings grid should the ratings of...
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