MUFG

Commodities trader Mercuria is back in the market for its annual refinancing, launching a $900m triple tranche revolver into general syndication late last week.

Pernod Ricard, the French distiller, priced an opportunistic €500m bond on Monday, paying a hefty 18bp premium in a market at risk of keeling over.

Africa Finance Corporation (AFC), a pan-African multilateral development finance institution, has returned to the market with a short dated medium term note and could print in the format again soon.

Philippines’ Petron Corp, which recently amended covenants on a 2014 borrowing, has hit the market for a $550m refinancing that was funded in July.

The Export-Import Bank of China (Chexim) introduced a new structure into Asia’s debt market this week, becoming the first issuer to sell bonds backed by loans. Some investors shied away from the unfamiliar format, but the Chinese policy bank raised $1bn from the dual tranche offering.

Barclays began marketing a multi-tranche Samurai trade on Monday, as some FIG bankers claimed European banks were still baulking at the new issue premiums being offered by US visitors to the euro market.

ONGC Videsh,the international arm of India’s Oil and Natural Gas Corp, has sent out a request for proposals for a $750m refinancing with an undisclosed greenshoe.

Bank of Tokyo-Mitsubishi UFJ has put Sanjeev Kumar at the helm of its new event finance team, created to serve the financing and investment needs of its corporate clients across Asia ex-Japan and Oceania.

Bank of Tokyo-Mitsubishi UFJ has hired a former RBS executive as co-head of corporate banking for EMEA.

Property developer HKR International has increased the size of its borrowing to HK$8bn ($1.032bn) to accommodate the 14 lenders that have formed the syndicate group.

Banks are processing approvals for a loan of around $300m to back the purchase of Ciro’s Plaza in Shanghai.

New cross-border financing schemes are being introduced across the four Chinese free trade zones (FTZs), with the newest three, in Guangdong, Fujian and Tianjin, seeing plenty of success after just four months of operations, according to foreign banks.