MUFG

MUFG Bank (Hong Kong) has appointed Lin Li as head of global markets research for Asia.

BMW Automotive Finance (China) Co has sold its first auto loan ABS of 2021, locking in longer-dated financing with a 14 month revolver. The deal added to a strong start for the onshore securitization market in the New Year as bond yields fell from their highs at the end of 2020, writes Addison Gong.

The prickly start to the year continued in Europe’s corporate bond market on Wednesday, as hybrid issues for Spanish toll road firm Abertis Infraestructuras and German oil and gas firm Wintershall Dea received opposite reactions from investors.

Europe’s high grade corporate bond market is showing no signs of slowing down, with new issues again breezing through fair value.

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.