The Sultanate of Brunei is to tap the international markets for the first time with a syndicated loan offering on behalf of the Ministry of Finance. As had been widely anticipated, the deal will be lead managed by ABN AMRO, BNP Paribas and HSBC.
BNP Paribas will also act as facility agent on the $250 million deal, due to price at some point within the next week.
The tenor of the transaction is for five years - using a bullet structure - with the option to extend for another five years. Similarly, if the deal is oversubscribed, the issuer may decide to borrow more than the initial $250 million.
The loan is the...
