Tuesday, 2nd April 2019, on behalf of The Mauritius Commercial Bank Ltd (the “Borrower”, or “MCB”) (www.MCB.mu), Standard Chartered Bank (“SCB”) and Sumitomo Mitsui Banking Corporation Europe Limited (“SMBCE”), together the coordinators (“Coordinators”) and active bookrunners (“Active Bookrunners”), are pleased to announce the signing and successful closing of general syndication for MCB’s USD 800,000,000 Dual Tranche Syndicated Term Loan Facility (the “Facility”). Proceeds from the Facility will be used for general corporate purposes, including trade finance. Citi joined the Facility as Bookrunner prior to the launch of syndication. Mizuho Bank, Ltd will be acting as facility agent on the transaction. Ahead of the launch of general syndication, the Facility attracted significant commitments during a successful senior syndication phase. The Facility launched general syndication on 30th … [Read more...] about The Mauritius Commercial Bank Ltd (MCB) Syndicated Term Loan
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Download logo African Development Bank President (www.AfDB.org), Akinwumi Adesina, on Wednesday urged Canadian business leaders to “be part of the action and seize investment opportunities on the continent.” Adesina made the call while meeting with 80 leading representatives of the Canada-Africa Chamber of Commerce in Toronto. Promoting the Bank’s upcoming Africa Investment Forum (AIF), scheduled for 7-9 November 2018 in Johannesburg, South Africa, Adesina said, “Canada must not be missing at Africa’s investment table. It is time to change the lens through which Africa is perceived and to make clear distinctions between perceived and real risks.” AIF will bring together global private capital and investment funds, sovereign wealth funds and the private sector, for what is primarily being billed as a transactional marketplace to bridge Africa’s $68 - $170 billion infrastructure gap. Stella Kilonzo, Senior Director of the Africa Investment Forum; … [Read more...] about African Development Bank President Adesina urges Canada to be present at Africa’s investment table
By Spencer Jakab Spencer Jakab The Wall Street Journal BiographySpencer Jakab @spencerjakab Google+ [email protected] July 15, 2018 10:00 a.m. ET 0 COMMENTS The world oil market is notoriously quick to react to headlines, but a seemingly significant one last week from the owner of the world’s largest reserves didn’t cause so much as a blip. According to reports, all from Venezuelan authorities, the China Development Bank earlier this month pledged either $250 million or $5 billion “in favor of the increasing and strengthening of the country’s oil production.” That Venezuela’s major industry needs “increasing and strengthening” is beyond question. Oil output crashed below a three-decade low to 1.34 million barrels a day last month. That is a million less than just three years ago and 2 million below the level when Hugo Chávez took power in 1999. Chávismo clearly has been very bad for Venezuela’s oil … [Read more...] about How Venezuela Became China’s Money Pit
Sections SEARCH Skip to content Skip to site index Asia Pacific Subscribe Log In Subscribe Log In Advertisement Supported by ByMaria Abi-Habib June 25, 2018 HAMBANTOTA, Sri Lanka — Every time Sri Lanka’s president, Mahinda Rajapaksa, turned to his Chinese allies for loans and assistance with an ambitious port project, the answer was yes. Yes, though feasibility studies said the port wouldn’t work. Yes, though other frequent lenders like India had refused. Yes, though Sri Lanka’s debt was ballooning rapidly under Mr. Rajapaksa. Over years of construction and renegotiation with China Harbor Engineering Company, one of Beijing’s largest state-owned enterprises, the Hambantota Port Development Project distinguished itself mostly by failing, as predicted. With tens of thousands of ships passing by along one of the world’s busiest shipping lanes, the port drew only 34 ships in 2012. And then the port … [Read more...] about How China Got Sri Lanka to Cough Up a Port
Article by WN.Com Correspondent Dallas Darling It didn’t take long for the mainstream press to control the narratives over the Singapore summit. A narrative, that is, which is always within the most narrowest spectrums of news and political debate. Whereas conservatives lauded the historic meeting between President Donald Trump and North Korea’s leader Kim Jong un as a resounding success and “See I told you so!” moment, liberals claimed it an absolute failure. In addition to making too many concessions, they accused the president of being “out of the know.” But make no mistake. The real driving force behind the U.S. finally wanting to sit down with North Korea over the possible denuclearization of the peninsula is China’s scramble for North Korea’s labor and resources. It’s moreover a scramble over southeast Asia and Africa where the U.S. is trying to play catch-up. After spending trillions of dollars on wasteful wars and … [Read more...] about Will China’s Scramble For NKorea and SE Asia Or Africa Make U.S. Political Goals Possible?