MUFG

Indonesia Eximbank, which had been talking to lenders for the past few weeks for a $500m refinancing, has zeroed in on a group of eight lenders for the new club deal.

Syndication has closed for a $975m refinancing for India’s Reliance Industries, with four new lenders coming in.

As the European high yield market showed signs of becoming friendlier to borrowers, French car parts supplier Faurecia on Thursday sold €700m of notes to redeem a €490m unsecured bond.

UK utility company SSE is in the market for its first private placement since its debut in 2012 and investor appetite for the firm’s paper appears as strong as before.

The $150m loan for Africa Finance Corporation is still in the market, although commitments for the loan were due weeks ago.

A $700m outing proved to be another success for ICICI Bank this week, which made a strong return to the debt market amid a lack of supply from high quality Indian credits. The scarcity element of Indian names helped drum up robust demand especially from the US, allowing the lender to price its notes flat to its curve.

Allocations for a $200m borrowing by Indian company UPL show six lenders joined the two mandated lead arrangers and bookrunners during general syndication.

India’s ICICI Bank is on track for its first dollar issuance of the year, having launched bookbuilding for a 10 year trade.

Corporate bond markets snapped into bullish mode on Friday as the effect of Mario Draghi’s renewed monetary stimulus kicked spread tightening into full throttle.

Hong Kong MTR Corp’s tightly priced HK$15bn ($1.9bn) loan has attracted interest from more than 20 banks in syndication, according to sources.

Indian Oil Corp and Bharat Petroleum Corp have launched their respective borrowings, worth a collective $580m, into general syndication. Both are offering the same base margin, but the latter is being generous with its all-ins for new banks.

UK property group Hammerson came to the corporate bond market on Tuesday with a €500m offering, as deal flow hit a more subdued tone ahead of the European Central Bank’s Thursday meeting.