MUFG

MUFG has promoted a 30-year veteran banker to lead its China corporate banking franchise in the Mainland.

Geely Automobile Holdings’ 80%-owned Genius Auto Finance is returning to China’s onshore market with a Rmb4.5bn ($705m) ABS next week, three months after getting away with an aggressive pricing for its first transaction of 2021.

Hammerson, the UK property development company, launched a sustainability-linked bond through its Irish subsidiary on Wednesday, hoping to achieve a better cost of funds by printing a deal that was eligible for ECB buying. The still-nascent SLB market gave few comparables for the trade, leaving investors needing a range of metrics to try and determine fair value.

SAIC Motor Corp’s auto financing arm is bringing a rare green auto loan deal to China’s ABS market. It is set to price the Rmb910m ($142m) transaction next week.

Singapore’s food and agri-business Olam has raised a $1bn loan to support its acquisition of US spices and seasoning company Olde Thompson.

BNP Paribas sold its first Samurai bond not to reset to Japanese Libor on Friday, ahead of the risk free rate's cessation later this year.

SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.

Volkswagen Finance (China) Co came to the onshore auto ABS market for the first time in 2021 with a Rmb5.97bn ($929m) transaction this week, slashing the revolving period to three months to achieve a competitive pricing.

Green bonds took centre stage in the US corporate bond market this week, as issuance began to mount again after the recess for earnings blackouts. No less than three deals paired green and conventional tranches.

Philippine property developer SM Prime Holding has returned to the loan market after an absence of five years.

Eni, the Italian oil and gas company, got its chunky €2bn hybrid capital issue comfortably oversubscribed on Tuesday, after a similar success for Orange last week. Corporate bond investors are piling money into anything that offers higher returns.

Indian agrochemical company UPL Corp has received strong response for its sustainability-linked loan during general syndication, allowing it to increase the size to $750m.