Chinese banks take bulk of Nakilat 3 debt

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19 June 2009

Bank of China and China Exim have taken the lion’s share of the debt for Qatar Gas Transport Company’s Nakilat 3 carrier financing programme.

Bank of China and China Exim Bank have taken 49% of Qatar Gas Transport Company's Nakilat 3 debt financing that closed oversubscribed in May. The Chinese banks were looking for a combined majority take in the debt facility but have been scaled back.

The final list of 17 banks is Bank of China, China Exim, Al Ahli,...

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Poll

Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?

10%

No - are you crazy? These prices are ridiculous. What were these banks thinking?

29%

Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.

62%