MUFG

Singaporean ride-hailing company Grab Holdings has added a dash of excitement to the loan market with plans to raise $750m from a new outing. Pan Yue reports.

State Bank of India successfully raised $600m with a bond issue underwritten by leading investment banks on Wednesday, just weeks after big investors divested from its green bonds because of its apparent intention to finance the controversial Carmichael coal mine being developed in Australia.

MUFG has given Darryl D’Souza a new position under Matteo Ferrario, where he will lead part of the bank's strategy for financial institutions.

BMW Automotive Finance (China) Co and SAIC-GMAC Automotive Finance Co are edging closer to sealing their first China auto loan asset-backed securitization deals of the year.

Far East Horizon, a Hong Kong-listed leasing company, has made a quick return to the loan market for a $1bn-equivalent three year borrowing, less than five months after sealing a larger facility.

Everfuel, the Danish hydrogen fuel company, has signed a quasi-equity loan facility from the European Investment Bank, as lenders say that funding for the green transportation sector is shifting from equity to debt.

Transdev, the French public transport operator, has signed a Skr1.2bn (€117m) credit facility to buy low carbon buses in Gothenburg, Sweden’s second largest city. One of the commercial lenders arranging the deal has used European Investment Bank money rather than its own, to provide better financing conditions.

Sustainability-linked bonds (SLBs) have hogged much of the limelight in the socially responsible investment markets this year. But transition bonds, which had fallen out of favour for some time, have demonstrated there is clear demand for the product, following a strong deal for Snam this week and guidelines due for release in the coming days, writes Mike Turner.

BPCE incorporated a call option into one of its Samurai deals for the first time on Thursday, when it raised about $430m equivalent of non-preferred senior paper, including one social leg.

Genius Auto Finance Co, a joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, is readying a Rmb4.04bn ($614m) Generation 2020-4 retail auto loan securitization. Pricing is expected later this week.

Snam, the Italian gas network company, has reinvigorated the transition bond market, servicing investors unable to buy sustainability-linked bonds.

Mercuria and Gunvor, the Swiss commodity and energy trading firms, have signed credit facilities for their US businesses, with both companies adding more banks to the deals.