MUFG

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

BMW and Daimler reopened Europe's corporate bond market on Thursday in emphatic style, reminiscent of the market's usual reopenings after Christmas, when car companies often take the lead. Such a clear and classical restart to issuance, this early in August, is unusual.

The US corporate bond market continued at a strong pace this week, ignoring the lure of the beach that sees its European counterparts' new issue flow slow to a standstill in August. More than $22bn of bonds were sold in the first three days of the week and around half of that was raised by United Technologies Corp.

Chinese companies BOC Aviation and Digital China have launched offshore loans into general syndication, seeking $500m and $100m, respectively.

BOC Aviation, the aircraft leasing group under Bank of China, has launched a $500m five year borrowing into general syndication, with a group of ten banks at the helm.

MUFG Bank has named ex-Royal Bank of Scotland executive Gyan Harlalka as head of global markets for India.

The Republic of the Philippines attracted more investor demand than expected on its return after eight years to the Japanese yen bond market. Its outstanding dollar bonds outperformed in secondary trading as the new deal was being marketed.

Taiwanese electronic components distributor World Peace Group is back in the market for a NT$10bn ($327m)-equivalent dual-currency loan. Meanwhile, a Foxconn subsidiary is seeking to refinance an old deal.

Housing Development Finance Corporation has launched a $750m loan into general syndication, after attracting one extra bank at the senior level.

Singapore’s Wilmar International has bumped up the size of its dual-tranche borrowing to $1.8bn after attracting 24 participants during syndication.

MUFG Bank has named Manoj Bhatia as head of global subsidiary banking for Asia and Oceania, effective August 1.

State-owned China Merchants Port Holdings Co (CMP) closed a $1.5bn dual-tranche transaction on Monday, attracting a final order book of $8bn. The deal put an end to a months-long drought of 10 year supply by Chinese issuers.