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?
Until credit sanctioners can escape from their investment grade comfort zone, they’ll never enable the full potential of an STCF approach to be felt.
Aidan Applegarth, independent banking consultant - Commodity banks bounce back, December 2009