MUFG

Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.

Indian refiner Hindustan Petroleum Corp (HPCL), which in December picked five banks to supply a $465m 21 month refinancing, is set to open the transaction to retail lenders next week.

The recent new issues from Turk Eximbank and Kuveyt Turk are both trading well, leading to hopes that further bonds from the country may follow.

Two acquisition financings are due to hit general syndication after Chinese New Year. One is a loan for Baring Private Equity Asia’s acquisition of HCP Global, and the other is for Singha Asia, which is buying stakes in two companies from Vietnam’s Masan through the issue of new capital.

Citigroup could issue its first yen bonds in over two years this week, after mandating banks for a five year issue in global format.

In a secretive deal that has only come to light now, NBAD signed $1bn of tightly priced one year loans with five close relationship banks at the end of last year. The lenders were Bank of America Merrill Lynch, Crédit Agricole, Citigroup, HSBC and Bank of Tokyo-Mitsubishi UFJ.

Turk Eximbank took the emerging markets by surprise this week, jumping in early on Monday to print a $500m five year and reopen Turkey primary bonds this year.

Mubadala, the Abu Dhabi investment firm, has launched a $2bn loan refinancing and will likely aim for a tight margin despite a choppy Middle East loan market, according to bankers.

Türk Eximbank issued a $500m five year bond on Monday, commanding a $1.09bn book and bringing hope to syndicate officials that more deals from the country may follow.

Turk Eximbank (Turkiye Ihracat Kredi Bankasi) has released initial price thoughts for the first Turkish bond of the year at 425bp area over mid-swaps.

A $975m refinancing for India’s Reliance Industries has opened for general syndication via 13 mandated lead arrangers and bookrunners.

Qatar has signed its $5.5bn five year loan with 13 banks in the syndicate. The six underwriting banks are holding at least $4.2bn of the loan between them, according to a banker on the deal.