MUFG

Woori Bank is preparing to make its Kangaroo bond debut, choosing the market to launch its first Covid-19 response bond.

Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

BP has priced the largest corporate bond buy-back ever conducted in Europe, acquiring $4bn worth of eight euro and sterling bonds, as it deploys the cash it hauled in with its $12bn hybrid capital issue in June.

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

MUFG Bank has hired Hoang Thi Tuong Khanh as director and head of global corporate banking for Vietnam.

Indonesian company Sarana Multi Infrastruktur (SMI) has increased the size of its loan to $700m after seeing strong traction from banks during syndication.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

Companies piled into the bond market with hybrid capital issues this week to raise €4.95bn between them, as syndicate bankers say that they are encouraging as many borrowers as possible to consider pushing out higher risk trades before raising senior debt.

Total, the French oil and gas major, continued the strong run of hybrid trades in the corporate market this week, launching a chunky €1bn note 37.5bp inside initial price thoughts on a yield basis.

Investors piled into European corporate hybrids again on Tuesday, with Belgian chemical firm Solvay and Austrian oil company OMV out with well received trades.