Mizuho

Japan’s debt market is not often known for its structural diversity, but a smattering of bank capital deals over the past year-and-a-half have provided a rare treat for yield-starved investors. There is little reason, though, to think supply will approach the level local investors would like for a long time to come. Matthew Thomas reports.

Indian conglomerate Reliance Industries has opened its $1.47bn dual-currency loan into general syndication, with four participation levels available to lenders.

Mizuho’s acquisition of Royal Bank of Scotland’s US investment banking assets and personnel has not only hauled it up the league tables, but could mould the future of its European operations, writes David Rothnie.

Mizuho has appointed a new head of debt syndicate for Asia Pacific, poaching him from rival Nomura.

Indian conglomerate Reliance Industries has picked a big group of banks for refinancing a $1.5bn loan raised three years ago.

Mizuho Bank is expected to launch its inaugural bond in the Thai baht market on Wednesday, a few days later than planned as the borrower awaits orders from a key investor. The deal will be the first to be printed under a new pan-Asian initiative designed to streamline debt issuance.

Commodities trader Mercuria is back in the market for its annual refinancing, launching a $900m triple tranche revolver into general syndication late last week.

Mizuho International’s European head of high yield credit trading has left the job at the bank and will not be replaced.

Mizuho has hired Richard Thompson as co-head of US private placements.

Auto finance companies are taking the Chinese ABS market by storm this year with SAIC-GMAC adding to the surging volumes with a Rmb3bn ($471m) transaction this week. Even though pricing came just slightly above the middle of guidance, bankers on the trade said it was a level the company was more than happy to take.

Philippines’ Petron Corp, which recently amended covenants on a 2014 borrowing, has hit the market for a $550m refinancing that was funded in July.

Barclays began marketing a multi-tranche Samurai trade on Monday, as some FIG bankers claimed European banks were still baulking at the new issue premiums being offered by US visitors to the euro market.