MUFG

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.

Four banks underwrote the $3bn prepayment facility for Swiss commodity trader Vitol to buy oil from Kazakhstan's KazMunaiGas (KMG).

Car parts distributor LKQ is set to become the first US company this year to issue a high yield bond in euros — and more US names may be on their way, bankers say.

Thai company PTTEP Offshore Investment has signed up four lenders for a $500m club loan.

Western Digital, the US maker of computer hard drives, has widened pricing on its $9.5bn loan package to entice reluctant lenders. The loan will back Western Digital’s $17bn acquisition of SanDisk.

A $300m dual-tranche loan for a subsidiary of palm oil producer Golden-Agri Resources has wrapped up with just two new banks coming in.

Adani Transmission has kicked off a series of investor meetings in Asia, Europe and the US to test appetite for an offshore rupee denominated note or Masala bond.

French industrial minerals producer Imerys brought two tranches of €300m sub benchmark notes to the European corporate bond market on Wednesday and clinched minimal concessions.

State Bank of India launched its $500m fundraising into general syndication on Tuesday via eight mandated lead arrangers and bookrunners.