MUFG

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.

Hong Kong-listed financial leasing firm Far East Horizon has exercised part of a greenshoe option on its loan to boost the deal to $1.29bn-equivalent.

MUFG Bank has appointed Rob Ward as head of project finance and head of ESG finance for Oceania, the firm said on Thursday.

Siong Ooi, MUFG Bank’s co-head of debt capital markets, loans and bonds, has relocated to Sydney from Singapore.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

Olam International has made a quick return to the loan market, raising a ¥25bn ($233m) Samurai facility.

Banks have shown quick interest in a new $500m loan from Indonesia’s Sarana Multi Infrastruktur (SMI), which is wooing lenders with a short tenor deal.

Far East Horizon, a Hong Kong-listed financial services firm, has launched a $1bn loan into general syndication.

Transition bonds were the hot idea of 2019 in green finance circles, appearing to offer a way to expand themed bonds to a much wider range of issuers. But the product has struggled to gain momentum. This week’s deal from Snam, the Italian gas grid company, confirmed that it has an audience, among both issuers and investors.