Caixa Economica Federal, Brazil’s third-biggest bank by assets, said home-equity lending will expand twice as fast as growth in the nation’s consumer credit market next year as borrowers seek to refinance debt.
Ireland’s Finance Minister Michael Noonan said he hopes Moody’s Investors Service will raise the nation’s credit rating from non-investment grade as the country exits its bailout program and plans debt sales.
Stemcor Holdings Ltd., a U.K. steel trader restructuring $1.25 billion of debt, reached an agreement with ICICI Bank Ltd. that will pave the way for the sale of its Indian iron and manganese ore units, said five people familiar with the situation.
Brazil will extend its program of currency swaps sales and dollar loans into 2014, central bank President Alexandre Tombini said after the real closed yesterday at the lowest level in more than three months. The real strengthened.
Las Vegas Sands Corp., whose credit ratings were increased today to investment grade by Standard & Poor’s, will boost interest to lenders in return for extending its loan maturity and removing financial covenants.
Co. syndicating revolving credit facility to refinance two existing credit lines totalling EU2.55b. * Tenor: 5y, with two 1y extension options * Margin: E+40 bps * Purpose: Refinance EU1.75b RCF maturing 2015 and EU800m RCF due 2016 * Utilization fees: 10 bps first-draw; 20 bps for 33% drawn; 40 bps for 66% * Information from three people familiar with the transaction, who asked not to be identified because the terms are private * “We keep under constant consideration the opportunity to refinance our existing facilities in light of current market conditions,” co. spokesman Ben Morton said in an e-mail