Latest news with #syndicatedLoan
Reuters
03-07-2025
- Business
- Reuters
Telecom Italia secures 750 mln euro state-backed loan, sources say
MILAN, July 3 (Reuters) - Telecom Italia (TIM) ( opens new tab is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy's export credit agency SACE, two sources familiar with the matter told Reuters on Thursday. The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE's Archimede scheme, the sources said, asking not to be named. It is expected to be finalised as early as this month. The Archimede programme is designed to support Italian companies investing in strategic sectors such as digital transformation and the green transition. It envisages a maximum exposure of 60 billion euros through 2029, of which 10 billion were already taken on by SACE last year, according to the Treasury's multi-year budget plan unveiled in April. Despite the phasing out of the state aid emergency programmes adopted in the wake of the COVID pandemic, Italy helps firms secure funding through several guarantee schemes worth more than 13% of gross domestic product (GDP), the latest government data showed. EU accounting rules state that public guarantees do not drive up the national debt until they are tapped by the banks which benefit. TIM will use the resources to fund ongoing infrastructure upgrades and boost its digital services, in line with national and EU digital goals. Spokespeople for Telecom Italia and SACE declined to comment. TIM, the heir to Italy's former phone monopoly and the country's largest telecoms group, last year sold its prized fixed-line network infrastructure for 18.8 billion euros to a consortium led by U.S fund KKR (KKR.N), opens new tab and including Italy's Treasury. The deal, aimed at slashing the company's debt pile and streamlining its operations, has helped TIM to improve its credit rating, which remains below investment grade territory. State-backed financial conglomerate Poste Italiane ( opens new tab has become TIM's single largest investor this year with a 24.8% stake, replacing France's Vivendi ( opens new tab. ($1 = 0.8482 euros)
Associated Press
30-06-2025
- Business
- Associated Press
TCL Technology pioneers the first sustainability-linked offshore syndicated loan in China's display panel industry
SHENZHEN, China, June 30, 2025 /PRNewswire/ -- Recently, TCL Technology Group Co., Ltd. ('TCL Technology', the 'Group') announced the Group's first sustainability-linked syndicated loan, with a total amount of US$200 million. This is considered to be the first sustainability-linked offshore syndicated loan in China's display panel industry. Bank of China (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited ('HSBC') and Standard Chartered Bank (Hong Kong) Limited served as Joint Mandated Lead Arrangers and Bookrunners and Sustainability Coordinators, and DNV Business Assurance Limited ('DNV') served as an independent external reviewer and provided a satisfactory second-party opinion on this sustainability-linked loan structure. The interest margin of the facility is linked to a series of core ESG performance indicators of TCL Technology, which are key performance indicators of the industrials and manufacturing industry recognised by the International Capital Market Association ('ICMA'). Meanwhile, TCL Technology has set up a two-way interest margin adjustment mechanism that includes both rewards and penalties, reflecting TCL Technology's strong commitment to implementing the ESG strategies and leading the sustainable development of the high-tech industry. The sustainability-linked offshore syndicated loan garnered significant interest from 19 leading Chinese and foreign banks, with oversubscription of more than 3 times the initial target. Li Jian, CFO of TCL Technology, said, 'The successful closure of the sustainability-linked offshore syndicated loan is an important milestone for TCL Technology to promote sustainable development. It also reflects the Group's long term commitment to strengthening its ESG management system and sustainable development capabilities. We will take this opportunity to deepen the use of sustainable finance tools to improve the efficiency of capital allocation, and accelerate the transformation processes of sustainable manufacturing and low-carbon operations. TCL Technology will continue to uphold an open and cooperative attitude and explore innovative paths for the integration of corporate finance and sustainable development with all stakeholders.' Wei Xue, Vice President and ESG Director of TCL Technology, said, 'We are very pleased to have successfully closed the industry's first sustainability-linked offshore syndicated loan. Sustainable development is TCL Technology's long-term business strategy and a core component of TCL brands globally. We hope to take the syndicated loan as an opportunity to combine corporate finance with ESG strategy, continuously improve the Group's ESG management capabilities, further enhance its operational capabilities to navigate through cyclical challenges under a complex and ever-changing market environment, and spread stronger wings to overcome the headwind. We look forward to working hand in hand with our partners to make every innovation a step towards a net-zero-carbon and sustainable future.' In 2024, TCL Technology officially joined the United Nations Global Compact ('UNGC'), and pledged with companies and other stakeholders from nearly 170 countries to fulfill the 10 principles of the UNGC covering human rights, labour standards, environment and anti-corruption, and to make continuous contributions to the realisation of the United Nations Sustainable Development Goals. At the same time, the Group has taken a key step to establish the 'Strategy and Sustainability Committee', escalated ESG management to the Board level, and established the 'ESG Working Committee' to deepen the integration of environmental, social and governance aspects in the Group's strategic planning and daily operations management. Adhering to the belief that 'sustainable development is not optional but necessary', TCL Technology is committed to exploring and applying digital tools to achieve more accurate and efficient carbon emission management. In addition, the company continues to implement value-sharing initiatives to promote the Group's ESG development in all aspects, such as 'TCLGreen', exemplified by the TCL Photovoltaic Low-Carbon Campus project, and 'TCLforHer', an initiative advocating for women's empowerment through technology and culture. View original content to download multimedia: SOURCE TCL Technology
Zawya
03-06-2025
- Business
- Zawya
Egypt: Redcon secures $80mln loan led by FABMISR for Golden Gate development
Arab Finance: First Abu Dhabi Bank Misr (FABMISR) has led a syndicated loan worth EGP 4.2 billion to finance the development of Redcon Properties' flagship Golden Gate project, a major commercial and administrative complex in New Cairo, as per an emailed press release. FABMISR served as the initial mandated lead arranger, bookrunner, facility agent, security agent, and account bank for the deal. The syndicate also includes Al Baraka Bank Egypt and Abu Dhabi Commercial Bank as mandated lead arrangers, alongside Arab Bank and Emirates NBD Egypt as lead arrangers. Meanwhile, Matouk Bassiouny & Hennawy acted as legal counsel to the lenders. Initially set at EGP 3.5 billion, the facility was oversubscribed by 1.2 times, triggering the Greenshoe Option and increasing the loan size to EGP 4.2 billion. Golden Gate, located on South 90 Street opposite the American University in Cairo and 400 meters from the nearest monorail station, is positioned as one of East Cairo's key mixed-use developments. The project includes extensive retail and leisure offerings and features one of Egypt's largest underground parking facilities, spanning 250,000 square meters over two levels. Designed to meet high sustainability standards, the development is projected to cut service costs by 40% and is promoted as Egypt's largest green, mixed-use complex. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
28-05-2025
- Automotive
- Reuters
Nissan plans $7 billion funding, backed partly by UK government, Bloomberg News says
TOKYO, May 28 (Reuters) - Japanese automaker Nissan (7201.T), opens new tab is considering raising more than 1 trillion yen ($7 billion) by issuing convertible securities and bonds, as well as a syndicated loan guaranteed by the UK government, Bloomberg News said on Wednesday. Japan's third-biggest automaker plans to issue as much as 630 billion yen in convertible securities and bonds, including high-yielding U.S. dollar and euro notes, Bloomberg News said, citing documents it had seen about the matter. Nissan is also considering taking out a 1 billion pound ($1.35 billion) syndicated loan, guaranteed by UK Export Finance, the report said. Nissan spokespeople did not immediately respond to a request for comment. Its shares rose following the report, and were last trading up about 1% after giving back some of their gains. ($1 = 144.5700 yen) ($1 = 0.7421 pounds)
Zawya
22-05-2025
- Business
- Zawya
Royal Jordanian Airline signs $250mln syndicated loan agreement led by Arab Bank
AMMAN — Royal Jordanian Airline (RJ) announced on Wednesday the signing of a $ 250 million syndicated loan agreement, led by Arab Bank and several Jordanian and regional financial institutions. This step underscores the solid confidence the banking sector places in the airline, according to a statement by the Arab Bank. During the signing ceremony, RJ Chairman of the Board of Directors Said Darwazeh stressed the airline's deep roots. "Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub," Darwazeh added. He noted that "despite various challenges globally and in the region, the airline continued its operations with resilience and determination, fulfilling its national mission and significantly contributing to Jordan's economy, especially in tourism and transport." Darwazeh highlighted the agreement as "a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector," adding that it "reflects the confidence that local and regional financial institutions have in the company's long-term vision." Darwazeh said: "We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company's objectives and contributes positively to the national economy." RJ Vice Chairman and CEO Samer Majali said: "As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernising its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan". "Fleet modernisation is a cornerstone of our commitment to sustainability, as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations,' he added. Majali also expressed pride in the financial sector's backing: "We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline's strong credit profile and financial stability.' He voiced RJ's full commitment to repaying the previous syndicated loan on schedule, even under the most challenging conditions during the COVID-19 pandemic, played a key role in reinforcing this trust and encouraging broader participation from financial institutions. CEO of Arab Bank Randa Sadik said that this $ 250 million financing agreement demonstrates Arab Bank's and the participating banks' belief in Jordan's national carrier's capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector. "The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions." She added that this financing contributes to supporting the national economy and reinforcing Jordan's standing regionally and internationally. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
