Australia

Citi has kept the red hot Australian RMBS market going with a A$1.2bn ($860m) transaction that priced on September 11. And similar to Commonwealth Bank of Australia’s (CBA) deal this month, Citi too was able to print a much bigger deal than initially planned.

Syndication for a $274m loan for Indian pharmaceutical company Strides Arcolab is under way, with one lender at the helm. The proceeds are for the company’s acquisition of Aspen’s generic pharmaceutical business in Australia.

Citi has been quick to capitalise on the reopening in the Australian RMBS market with a new A$500m ($346m). It follows hard on the heels of Commonwealth Bank of Australia’s (CBA) recent A$2bn trade that came after a jittery period in markets.

Barclays has strengthened its Asia Pacific coverage of the oil and gas sector with the hire of Jorge Martinez from HSBC.

The recent volatility experienced across global markets proved no obstacle to a RMBS trade from Commonwealth Bank of Australia. While the jittery market did force CBA to price at the investor-friendly end of guidance, the Australian bank managed to raise A$2bn ($1.4bn), double what it originally conveyed.

Commonwealth Bank of Australia (CBA) is back in the RMBS market with an A$1bn ($718m) transaction that is due to price on Friday.

Singapore’s largest bank, DBS, has expanded its international footprint to Australia with the launch of a Sydney branch this week.

Bank of Tokyo-Mitsubishi UFJ has put Sanjeev Kumar at the helm of its new event finance team, created to serve the financing and investment needs of its corporate clients across Asia ex-Japan and Oceania.

Barclays has made a clutch of new hires in Australia in recent months, with the latest being Duncan Hogg as its new head of M&A, as the bank looks to bolster its cross-border M&A, financing and associated risk management businesses.

Bank of Queensland plans a London roadshow from September 7 for the new issue from its REDS EHP Australian ABS shelf.

Many years after the Australian states of Victoria and South Australia privatised their electricity assets, New South Wales, Queensland and Western Australia are finally discussing similar moves. But the processes are fraught with political sensitivity and corporate machinations. Ben Power reports.

Export-Import Bank of Korea (Kexim) launched its largest ever Kangaroo this week, while a trio of rare SSAs tapped the Kanga long end. And more deals in the long dated part of the curve are on the way, say niche currency bankers.