MUFG

The Export-Import Bank of China is poised to return to the offshore bond market this week, lining up banks to hold investor calls for a dual-currency, triple-tranche offering.

Mitsubishi UFJ Securities (HK) has hired former Barclays banker Alan Choi as executive director for the capital markets group, effective from April 5.

Eurogrid, the German electricity grid operator, took over €4bn of orders for a 12 year euro bond on Monday, as it took advantage of flattening at the long end of the curve.

Vitol-KazMunaiGas has received more than $3.5bn in commitments from lenders for its prepayment facility loan.

A $465m 21 month refinancing for Hindustan Petroleum Corp (HPCL) has received one commitment since its launch into syndication in mid February.

Mitsubishi UFJ Financial Group (MUFG) has boosted its institutional sales team in Europe, hiring Paul Lavelle from Royal Bank of Scotland.

The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.

Red Eléctrica de España, the Spanish transmission company, came to the bond market for a modest amount of debt on Thursday with tight results, as it bagged a negative new issue premium.

Hong Kong-based commodities trader Noble Group is back in the market for a $1bn loan to refinance outstanding debt. But the company is paying up dearly for the fundraising as it battles scepticism around its sector and the state of its financials. Shruti Chaturvedi reports.

Rather than cherry picking its favourite banks for its $10bn sovereign loan, the Kingdom of Saudi Arabia will “pull together a handful of banks” to get the deal done, according to a banker in discussions with the sovereign.

Telefónica hit the European bond market on Wednesday for a €2.75bn dual tranche deal that drew hefty demand, but later widened in secondary.

Loss-making commodities trader Noble Group has launched a richly priced $1bn one year refinancing into general syndication.