JP Morgan

The names have emerged of the 16 lenders that have signed up to the $1bn dual tranche loan from mobile phone company Xiaomi ahead of its launch into general syndication next week. Including the three original bookrunners and mandated lead arrangers, the total number of banks at the top level could swell to 20 as one more lender processes its approval.

E-commerce giant Alibaba Group has signed a $3bn revolving facility with four lenders, just days before it starts premarketing its IPO.

Chinese real estate developer Country Garden Holdings is looking to raise HK$3.18bn ($410m) from a one for 15 rights issue that is slated to hit the market in late September.

The European leveraged loan market might be all but dead in this fourth week of August, but one German borrower is pressing on with a transaction to cut the margins on its existing debt.

BMW reopened the European benchmark investment grade corporate bond new issue market today with a punchy €1.75bn deal that proved one thing and suggested another. The market is fully open for business after the summer – that is certain. And the signs are that spreads – and especially yields – for corporate issuers are set for a very tight autumn.

India’s GVK Power & Infrastructure is expected to meet investors in the first week of September, ahead of launching a qualified institutional placement to raise up to Rp15bn ($247m).

Mobile phone company Xiaomi HK’s $1bn dual tranche loan has received commitments from 15 banks wanting to join at the mandated lead arranger and bookrunner level. The minimum commitment in the senior phase was $150m.

Santiago de Chile bus operator Inversiones Alsacia missed a payment due on its dollar bonds on Monday and said it had reached the beginnings of a restructuring agreement with bondholders. The issuer went on to launch a scathing attack on Chilean authorities for changes in the concession that led to its weak financial position.

Singapore’s second largest bank, OCBC, is seeking to raise S$3.37bn ($2.7bn) from a one for eight rights issue to strengthen its balance sheet following its $5bn acquisition of Hong Kong’s Wing Hang Bank in July.

Mobile phone company Xiaomi HK’s $1bn dual tranche loan has around ten banks processing approvals to join at the mandated lead arranger and bookrunner level, for which the minimum commitment was $150m.

BNP Paribas hires capital structurer - Citi appoints EQD head - Reinhart to join UBS for FIG - JPM takes on City veteran

US corporate issuance slowed through the week as books thinned and issuers offered concessions in order to get deals done before the summer holiday season.