Scotia Upsizes Loan Following Adjustments

Scotia Upsizes Loan Following Adjustments

Loans

Scotiabank’s Peru unit has succeeded in closing a $280m amortizing facility after it tweaked terms. The loan was originally launched as a 5-year $200m facility at Libor plus 120bp. But difficult market conditions forced a trimming of the tenor to 3 years, a 5bp bump on the margin to Libor plus 125bp, and, according to bankers away from the deal, an increase in fees. The adjustments did the trick and permitted Scotia to increase the facility to $280m, according to people close to the deal. Interb

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