Three banks join HSBC for Czech medium-term syndicated credit

Jul 19, 2000 02:00 AM

Germany's HypoVereinsbank, Dutch ING Bank and Czech bank Komercni banka have joined HSBC in arranging the debut medium-term syndicated credit sought by the largest Czech crude oil refinery, Ceska rafinerska, an HSBC official said. HSBC was mandated to raise up to 5 bn koruna through a 5-year term loan to finance growing investment needs of the company that is striving to upgrade its production facilities to catch up with its Western European peers.
The HSBC official said HypoVereinsbank, ING Bank and Komercni were acting as joint arrangers, with an number of other international bank looking at the deal, expected to be signed soon.
State-owned petrochemicals conglomerate Unipetrol owns a majority of 51 % of Rafinerska, while a consortium of AgipPetroli International, Conoco Energy and Shell Overseas Investments, holds the remaining 49 % stake. Rafinerska showed an annual 20.7 % drop in its net profits to 1.687 bn koruna in 1999, due mainly to lower refinery margins, sluggish domestic economyand competitive pressures in the region.

Source: Bridge News via Newspage
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« September 2021 »
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30

Register to announce Your Event

View All Events