MUFG

Indonesian oil and gas company Pertamina has asked banks to review covenants on a loan it wrapped up in February, as future capital expenditure requirements might make it difficult for it to stick to the existing conditions.

Post-crisis pressure on Western banks and faltering domestic returns are pushing Japanese banks to be increasingly aggressive overseas. Buying up swathes of assets and an energetic hiring spree have helped put Japan's biggest lenders in a position that they have not enjoyed for years, as Peter McGill reports.

UK engineering group Smiths’ second euro bond was 2.3 times oversubscribed on Thursday. The issuer is a rare name in euros, and the deal was preceded by a three day roadshow.

Supranational lender Africa Finance Corp’s Wednesday debut was a “massive exercise in price discovery,” said bankers on the trade. But one that ended with the right spread and an increased deal size on the back of strong demand.

Hindustan Petroleum Corp’s (HPCL) $400m 39 month facility has attracted two to three commitments so far, said bankers.

Indonesia Eximbank has received commitments from 17 banks for its $750m dual trancher. A whopping 30 more lenders have expressed an interest in the loan, said a banker on the trade.

Integrated natural gas company China Gas found robust demand for its $150m loan backed by the International Finance Corp. The loan was strongly oversubscribed and has been allocated among 17 lenders.

UK engineering company Smiths Group has hired four banks to arrange a roadshow from April 20 for its second euro bond.

PTT Global Chemical’s French subsidiary VencoreX Holdings has wrapped up €190m ($215.65m) dual tranche seven year loan. The deal, which has Deutsche Bank as sole bookrunner, was signed among six banks, said a banker.

Noble Group, a commodities supplier that launched a $2.25bn fundraising recently, is fending off further criticism of its financials and debt levels, with research firms Muddy Waters and GMT having issued new reports on the company.

Noble Group, a commodities supplier, has launched into general a $2.25bn financing that is being led by a 15-strong group of banks.

French satellite group Eutelsat has refinanced €800m of loans with a syndicate of nine.