Usiminas Goes for Tight Yen Loan
Brazilian steelmaker Usiminas is in Tokyo looking to syndicate an up to $350m 8-year B loan through SMBC. The B portion, part of an IDB A/B facility, is being targeted solely at Japanese banks for just 75bp over Libor. That spread seems unrealistically low for a market in which many European and US banks are funding themselves at 100bp-150bp over Libor. But people close...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.