Loans news: A fresh push

Loans news: A fresh push

Loans

The loans market, at least in the energy sector, has been slow this year. But Mexico’s Fermaca may change that. The energy company recently secured $622 million in financing for the La Laguna-Aguascalientes natural gas pipeline. Now it is arranging another loan for almost $500 million for the Villa de Reyes-Aguascalientes-Guadalajara pipeline. “This is a pretty big transaction for 2016,” says one of the lenders. “It’s been quiet so far, but we’re hoping this will pick things up.”The nine banks on the deal, with ING as the coordinating lead arranger, put the spread just below 200 basis points over Libor at the start but included step-ups that eventually take the roughly eight-year loan closer

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