MUFG

Pricing on a $1.5bn borrowing for Indonesian state-owned oil company Pertamina has become a talking point among loans bankers. Some believe that the loan will not have an easy time in syndication as the cost of funds at Japanese and Taiwanese lenders creeps up, writes Shruti Chaturvedi.

A $725m loan for Indonesia Eximbank has been allocated, with lenders that committed only to the shorter, three year tranche, experiencing a bigger scaleback than those that opted for the five year.

A third Turkish bank has returned to the MTN market, joining Vakifbank and Yapi Kredi with a short dated private placement as prices approach the levels they held before the failed military coup on July 15.

Indonesia’s Pertamina is expected to launch its long awaited $1.5bn five year financing into general syndication this week, punctuating a quiet period for the southeast Asian loan market.

France's Danone has completed syndication of $13.1bn of loans to fund the $12.5bn acquisition of North American organic food and drinks company White Wave. But there might not be many more jumbo deals this year, as political volatility looks set to hang over the M&A market for a little longer, writes Robert Cooke.

A pair of Turkish banks has returned to the MTN market after a 100bp rally in their secondary levels, marking the first bonds since the failed military coup in Turkey on July 15 and bringing hope that by September, public syndicated bonds may be back on the table.

NTPC ventured into uncharted territory on Wednesday, issuing India’s maiden green bond denominated in offshore rupees. While the deal is expected to be the first of many, the development of the asset class depends on the stability of the currency and secondary market liquidity. Narae Kim reports.

The Asia ex-Japan debt market is set to welcome a landmark trade this week, with NTPC marketing India’s first offshore rupee-denominated green bond of up to Rp15bn ($224.6m).

NTPC is gearing up for India’s first offshore rupee-denominated green bond, having hired four banks to handle what could be a landmark offering.

Ion Trading — Sixt — Terna — Domino's — Hansteen

Terna, the Italian electricity grid company, has signed a €500m five year revolving credit facility, a year after repaying a previous club deal.

Bank of Tokyo-Mitsubishi UFJ (BTMU) has appointed Melina Concha as executive vice-president and head of global corporate banking for the Philippines as part of the Japanese firm’s strategy to deepen its presence in the region.