Barclays

Qatar’s Ahli Bank has closed a $200m debut syndicated term loan facility, increasing the size of the deal after its initial amount was oversubscribed.

European credit markets had a nasty turn today, which salespeople and analysts blamed on news that Bill Gross, the so-called ‘bond king’, had decided to leave Pimco, the world’s biggest bond investor. Yet Babcock International, the UK engineering services group, still managed to issue a €550m bond – its first in the European market, according to Dealogic.

Hana Bank has become only the second Korean lender to tap the dollar market for a tier two bond, pricing a $300m issue on September 25 that was multiple times oversubscribed. But some of the credit for success has to go the country’s regulator for tweaking its Basel III rules before the transaction.

Oesterreischische Kontrollbank — OeKB

Dollar demand for sovereign, supranational and agency names made its first signs of slowing this week, as one benchmark fell short of full subscription and other deals, while still oversubscribed, showed signs of demand being less exuberant than in the first weeks after the summer break.

Expectations of low supply in the remaining part of the year and a hunger for yield benefited FIG issuers this week. Barclays, Credit Suisse, Goldman Sachs and Morgan Stanley all received strong receptions for new senior prints.

Acquisitions announced on Monday by Siemens, Merck and Arkema marked the continuation of a wave of European investment grade acquisitions, with varied outcomes for syndicated loan financing.

Goldman Sachs and Barclays added to a strong week for senior supply on Thursday, selling 10 and long seven year notes respectively. An expected lack of supply in the coming months coupled with an appetite for longer dated paper encouraged high investor demand for both prints.

Hana Bank brought to market what is only the second ever dollar denominated new-style bank capital deal from South Korea on Thursday, September 25. The bank is offering a RegS/144A 10 year bullet tier two issue.

Coal distributor Earth Energy is looking to become the first Thai borrower to issuer an offshore renminbi bond and met investors in Asia during the week of September 22 for a proposed Reg S deal.

Reliance Jio Infocomm, the telecoms subsidiary of Indian conglomerate Reliance Industries, opened its $1.5bn dual facility refinancing loan for general syndication on September 19, with a mandated lead arranger and bookrunner group of 15 banks.

Japanese brewer Suntory Holdings left a solid footprint in the dollar market with its inaugural issue on Wednesday. With books for the RegS/144A $1bn dual tranche issue already covered during Asia trading hours, dealers proceeded to push final pricing 20bp tighter than where investor feedback came in.