MUFG

State Bank of India, which wrapped up a $500m syndication with 21 lenders this week, is already eyeing a new borrowing of about the same size, said bankers.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, is seeking a dual currency $844m-equivalent loan from the offshore syndication market.

A $500m three year borrowing for State Bank of India has been allotted among 21 lenders, eight of which joined during general syndication.

Export-Import Bank of China came to the market with a two-currency, fixed and floating rate transaction on Thursday, snapping up $918m-equivalent. Its outing followed downgrades on China’s sovereign rating and that of the issuer, but buy-side concerns were well contained.

Indonesia's Mitra Pinasthika Mustika Finance has returned to the international loan market with a $100m deal, less than a year after signing its last fundraising.

DBS Group Holdings and HSBC Holdings are wooing debt investors, with the former seeking a dollar senior deal, and the latter a Singapore dollar perpetual. The Export-Import Bank of China (Chexim) is also collecting bids for its fundraising.

The Export-Import Bank of China (Chexim) is set to hold investor calls for a euro fixed rate five year bond and a dollar floating rate three year. India’s Canara Bank, meanwhile, will meet accounts in Asia and Europe for its first dollar outing since 2013.

Indonesian automobile finance company Mandiri Tunas Finance (MTF) has hit the offshore syndicated loan market for a $100m borrowing.

Nestlé made its second visit of 2017 to the Eurodollar bond market on Tuesday, issuing a $300m five year that it managed to price 19bp tighter than a similar deal in January.

The UK’s Thames Water Utilities was the only point of primary action for corporate bond investors in Europe on Tuesday, as the blackout period drags the market into what some called the quietest week of the year so far.

Qantas Airways has wrapped up its latest borrowing at A$900m ($676m). The Australian carrier had held roadshows in Singapore, Hong Kong and Taipei and drew a response from Chinese, Singaporean and Taiwanese banks, among others.

The first round of the French presidential election takes place this Sunday and, while the market is mostly quiet, Derek Halpenny, head of global markets research at MUFG, says that market participants have not priced in much risk of a shock anti-EU result.