Mizuho

Tentative allocations are out for smartphone maker Xiaomi’s $1bn dual tranche loan. The deal has proved popular as bankers are eager to lend to the company that has ambitious plans for global expansion.

A cacophony of troublesome macro conditions are rocking the markets and could make issuance exceptionally tricky for issuers looking to print dollars in the coming weeks. A pair of borrowers felt the pain on Wednesday, with their leads setting pricing in line with initial price thoughts and at least one of the deals undersubscribed — a far cry from a series of blow-out dollar trades since the market reopened after the summer.

UK pharmaceuticals group Amdipharm Mercury has set out price guidance on its £984m refinancing and recapitalisation loan, which will raise its net leverage ratio from 3.4 to 5.5 times.

State owned IT company China Electronics Corp’s $1bn five year term loan for a thin-film-transistor liquid-crystal display (TFT LCD) project in Nanjing, launched into general syndication on October 9.

A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads.

UK pharmaceuticals group Amdipharm Mercury, owned by Cinven, has launched a £985m-equivalent loan that will refinance debt and recapitalise its senior debt structure.

High grade borrowers were thin on the ground in the US market this week as volatility roiled equities and earnings blackouts loomed large.

United Internet — Vitol — Mol

Pelabuhan Indonesia II’s $1bn loan opened into general syndication on October 3. The loan was a long time coming, having been around since May as the borrower awaited regulatory approvals.

Indian Oil Corp is understood to have mandated three Japanese megabanks for a C$600m ($541m) loan. The state owned refiner is thought to be seeking the money for the acquisition of a stake in a liquefied natural gas port in Canada.

Pelabuhan Indonesia II’s $1bn loan that had been in gestation since May, opened into general syndication on Friday.

Eiffage, the French construction and concessions company, has signed a €1bn five year revolving credit facility with 16 banks. The deal was 25% oversubscribed.