RBS Said to Be Exiting Corporate Debt in Middle East
Royal Bank of Scotland Group is reportedly exiting its corporate loans and debt capital markets business in the Middle East and Africa.
Royal Bank of Scotland Group is reportedly exiting its corporate loans and debt capital markets business in the Middle East and Africa.
Royal Bank of Scotland and Société Générale were among the mandated lead arrangers and bookrunners on Mercuria Energy Group’s $1 billion Asia credit facility.
Gunvor Group said it signed a $1.515 billion revolving credit facility. Credit Suisse AG, RBS and Societe Generale, among others, served as book-running mandated lead arrangers in the facility.
American Water Capital increased its revolver to $1.25 billion. According to an October 2012 8-K, Wells Fargo Bank is serving as administrative agent, with JPMorgan Chase Bank as syndication agent.
Helicopter leasing company Milestone Aviation announced it closed a new $300 million credit facility to acquire and lease helicopters valued at $400 million. Lloyds Bank was the mandated lead arranger for the facility.
Standard & Poor’s revised its outlook to negative from stable on the issuer credit ratings on RBS Citizens Financial and its main bank subsidiaries RBS Citizens and Citizens Bank of Pennsylvania.
The Wall Street Journal said that five years after rescuing Royal Bank of Scotland, the British government still hasn’t figured out what to do with it.
The Wall Street Journal reported that Royal Bank of Scotland, 81% owned by the British government, is set to present plans next week to float up to a quarter of its Citizens’ U.S. retail business.
Bloomberg reported that regulators are saying a RBS trader colluded with a counterpart at UBS to pay bribes to brokers willing to help them manipulate global interest rates.
RBS announced it reached an aggregate settlement of $612 million with regulators in both the UK and U.S. in relation to investigations into submissions, communications and procedures around the setting of LIBOR.