MUFG

The Asia head and chief executive of Mitsubishi UFJ Securities (Hong Kong) is to hand over the reins in April.

The Asia head and chief executive officer of Mitsubishi UFJ Securities (Hong Kong) is to hand over the reins to a colleague in April.

A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has gone into general syndication, offering incoming banks all-ins below 112bp.

Bank Julius Baer has made senior changes to its southeast Asia business, creating the role of vice-chairman as well as appointing a new head of private banking.

The Chinese auto ABS market is revving up for 2016 with Volkswagen poised to launch a Rmb2.99bn ($460m) Driver China Three next week.

A $1.5bn refinancing for Tata Steel that went into senior syndication in early December has been funded by 17 lenders.

A $200m equivalent borrowing for Yue Xiu Enterprises has been launched into syndication with one bank at the helm.

Airport Authority Hong Kong (AA) has tied up a HK$5bn ($645m) five year fundraising with a group of 21 banks that were undeterred by the sub-100bp pricing.

The crunch is coming. The Middle East loan market has long offered low margins and lashings of liquidity but pricing is widening, just as issuers flock to the market in droves, writes Elly Whittaker.

Mitsubishi UFJ Securities, the US securities business of MUFG, has started US equity research coverage this week, with a new team consisting of four analysts. Coverage will focus on energy, real estate investment trusts (REITs) and technology.

Ford Auto Finance (China) executed its second auto ABS of the year this week, raising Rmb2.99bn ($467m) with Fuyuan 2015-2 Retail Auto Mortgage Securitization. The amount raised was similar to its last outing in February, but Ford was able to cut its funding costs by an impressive 140bp.

India’s Reliance Industries has selected a group of 13 lenders for a $1bn loan that will refinance a borrowing raised in 2010.