DBS

Hindustan Petroleum Corp (HPCL) has launched a $465m 21 month refinancing into general syndication with three participation levels on offer.

Baring Private Equity Asia has tapped five banks to helm a $400m loan to back its bid for Singapore-based Interplex Holdings, with the deal to open into general syndication shortly.

Two lenders are financing a club loan of close to £140m ($202.8m) for a subsidiary of the Employees Provident Fund of Malaysia.

The China auto ABS market is having a busy start this year with SAIC-GMAC Automotive Finance poised to follow in the footsteps of Beijing Hyundai and Volkswagen to become the third issuer in 2016. But the originator is creating a first for Chinese auto ABS with a revolving structure.

Indian refiner Hindustan Petroleum Corp (HPCL), which in December picked five banks to supply a $465m 21 month refinancing, is set to open the transaction to retail lenders next week.

One more bank has joined the top group for a loan for Tata Power subsidiary Bhira Investments. The borrower had initially shortlisted six lenders for the facility to refinance a $460m loan it wrapped up in October 2014.

South Korea’s Kookmin Bank issued its second ever covered bond this week, raising $500m from a five year note that was more or less a replica of its debut transaction.

Yue Xiu Enterprises has doubled the size of its loan to $400m after seeing strong demand from lenders during syndication.

Philippine homebuilder Vista Land & Lifescapes opted to tap its outstanding bond rather than sell a new deal on Wednesday due to challenging market conditions. Although pricing wasn’t as tight as expected, offshore investors were still keen due to its scarcity value and a lack of other primary supply.

South Korea’s Kookmin Bank is looking to price its second covered bond on Thursday, while HNA Group is out to tap its existing dollar notes that were issued two months ago.

A $975m refinancing for India’s Reliance Industries has opened for general syndication via 13 mandated lead arrangers and bookrunners.

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.