ANZ

Oil products storage and distribution firm Puma Energy has invited banks to join a $500m loan that will refinance a one year revolver that matures this May.

Australia and New Zealand Bank announced on Tuesday that it would cut 12 jobs in the markets division to simplify its business and focus on cost management.

Australian banks are going through one of their toughest periods as slowing economic growth and greater regulatory oversight cause them to rethink their business models, especially when it comes to overseas activity. With new CEOs in place at three of the four big lenders, the industry is set for an overhaul. Ben Power reports.

Singaporean lender United Overseas Bank (UOB) made a quick return to the dollar bond market last Friday, raising an additional $200m with a tap of its tier two notes issued earlier in the month.

Korea Development Bank (KDB) sold two tranches of floating rate notes on March 18, in a transaction that was driven by reverse enquiry from Taiwanese banks.

Chinese e-commerce group Alibaba is understood to have seen a good turnout for a roadshow held on Thursday for its $3bn syndicated loan. Bankers reckon the pricing and the potential use of proceeds contributed to the appeal.

United Overseas Bank is making a quick return to the dollar bond market, reopening its $500m 2026 tier twos on Friday.

Bank of Communications Financial Leasing sealed a popular $1bn dua tranche offering on Tuesday, drawing a huge crowd of investors amid a lack of dollar bonds from China this year.

Bank of Communications Financial Leasing’s $1bn dual-tranche offering was a big success on Tuesday, as cash-rich Chinese investors were drawn to the credit amid a dearth of dollar offerings from the country.

Malaysian telecommunications giant Axiata Group and Bank of Communications Financial Leasing are looking to tie up their respective dollar offerings on Tuesday with the former executing a sukuk and the latter a conventional bond.

Allocations for a $200m borrowing by Indian company UPL show six lenders joined the two mandated lead arrangers and bookrunners during general syndication.

Chinese e-commerce group Alibaba has launched its latest loan at $3bn, less than a week after it signed an agreement with eight mandated lead arrangers and bookrunners. However, the financing could be even bigger, with the top group hoping demand will be strong enough to increase it to $4bn by the end of syndication.