LOAN HOUSE: HSBC
Amid a quieter environment for syndicated lending, one institution stood out for maintaining a consistent presence
A year ago, prospects for Latin America’s
syndicated loan market looked dim: borrowers were still jumping
at opportunities to tap bond markets at historically low
funding costs. Meanwhile, international lenders faced tougher
capital requirements under Basel III rules. But as conditions
in the bond markets wobbled in the second quarter, loans
started to picked up some of the slack, often with considerable
size. Mexican oil company Pemex, for example, signed a $1.25
billion three-year revolver, Mexico’s
Comisión Federal de Electricidad (CFE) agreed a $1.25
billion five-year revolver and Argentine steel-maker...
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