Quiroz Galvao Heard Oversubscribed

Quiroz Galvao is finalizing allocations for a $575m 7-year syndicated loan for Alpha Star, with the deal substantially oversubscribed, according to a banker leading it. Final allocations are expected within the next few days. Santander and Citi are leading the transaction, with proceeds being used to build oil platforms. The spread is 250bp over Libor for the construction period and 225bp over for the post-construction period, say bankers with knowledge of the transaction.