Mizuho

Syndication has launched on $14.2bn of debt to back German chemicals and pharmaceuticals firm Bayer's purchase of Merck & Co's consumer care business.

State Bank of India has closed its loan at $554.5m, managing to gather enough demand during syndication to increase its borrowing from the launch size of $390m.

State Bank of India has closed its loan at $554.5m, managing to gather enough demand during syndication to increase its borrowing from the launch size of $390m.

A long-awaited new wave of mergers and acquisitions is set to buoy the struggling European syndicated loan market, senior bankers said this week after the emergence of a jumbo bridge loan to finance Bayer’s $14.2bn acquisition of Merck & Co’s customer care business. Michael Turner reports.

Indomobil Finance Indonesia has returned to the market for a $100m three year facility, launched into syndication on Thursday, May 8. At the same time, fellow borrower Pelabuhan Indonesia II has also picked banks for its separate $1bn five year.

German chemical and pharmaceutical company Bayer has mandated three banks for a bridge loan to finance its $14.2bn acquisition of Merck & Co's consumer care business.

A group of seven banks are tipped to win the mandate for Pelabuhan Indonesia II’s $1bn five year loan, which when finalised, will launch into syndication.

For the past 13 years Asiamoney has revealed the top domestic banks, equity houses and debt houses in the region's largest financial markets. For our 25th anniversary edition we have amalgamated these winners to reveal which institutions in Asia have best stood the test of time. Richard Morrow reports.

Lenovo's lack of a rating is not putting investors off the new five year bond that it kicked off on Tuesday, although bankers reckon that the issuer will have to pay up a little. By late afternoon in Hong Kong, the Chinese computer giant had already amassed $2bn of orders for its five year bond, which is due to price overnight.

San Miguel Corporation’s Global Power Holdings opened books on a new hybrid bond on Tuesday morning, with guidance on the perpetual non call 5.5 bond set at 7.625% area. Bankers have indicated that the borrower is looking to do a benchmark size transaction.

India’s Reliance Industries has raised a loan of $550m with a tenor of 12 years, after bringing on board export credit agencies and a group of Japanese banks.

Vista Land & Lifescapes priced the first corporate dollar bond from the Philippines this year after closing a tender offer. Despite continued strong domestic demand for its name, the issuer took the opportunity to distribute its new bond to a more international investor base.