MUFG

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.

MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.

MSCI picks up Nick Mihic — Algomi co-founder Stuart Taylor joins MUFG — Vinod Vasan changes roles at UBS

Ford Automotive Finance (China), Dongfeng Nissan Auto Finance Co and domestic Chinese originator BYD Auto Finance Co competed head-to-head in the onshore auto loan asset backed securities market this week, but a strategy of targeting different investors helped bankers manage the competing supply, Addison Gong reports.