Moody's Investors Service has assigned its first senior unsecured bank loan rating of A3 to a $450 million multi-borrower, multi-tranche syndicated loan facility for Japanese construction and mining equipment giant, Komatsu. Co-arrangers, Citibank and Sumitomo Bank, closed syndication on Wednesday, but no details as to a final list of participants or the pricing of the deal, are available yet. Citibank was the bookrunner.
Moody's expect that the rating will be the first of many in the Japanese syndicated loan market. We're 100% sure that the number of syndicated loans will increase over the next few years, says Junichi Yamaki, senior vice president of Moody's Japan K.K.
There are several...
