MUFG

Myanmar’s decision to allow nine foreign banks to conduct wholesale operations in the country has opened up a new avenue for syndicated loans in the region. Banks are taking a long term view, however, with most opportunities for lending expected to come from project finance and infrastructure, writes Shruti Chaturvedi.

Mercuria Energy Group that launched its $1bn triple tranche revolving loan into general in September, will likely increase the size of its borrowing.

Though everyone in the European bond market knew Apple’s long-awaited debut was coming today, Société des Autoroutes Paris-Rhin-Rhône was not deterred from launching a big deal of its own on the same day.

Indonesian power company Pertamina, which mandated 12 lenders for its $1.8bn five year loan, will fund a portion of the financing onshore.

South African First Rand Bank has mandated Citi, Mitsubishi and Rand Merchant Bank to arrange a dollar Reg S bond.

Türkiye Iş Bankasi has tightened price guidance to 340bp area over mid-swaps on a 5.5 year dollar benchmark bond, bringing the third Turkish financial institution bond in a fortnight — after Yapi Kredi and TSKB — and offering around a 10bp new issue premium.

A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads. The money will be used to refinance the outstanding portion of the debt Tata took to fund its acquisition of Europe’s Corus Group.

Tentative allocations are out for smartphone maker Xiaomi’s $1bn dual tranche loan. The deal has proved popular as bankers are eager to lend to the company that has ambitious plans for global expansion.

Mobile phone maker Xiaomi’s $1bn dual tranche loan has netted commitments from nine lenders in general syndication. The deal has been a popular one as bankers are eager to lend to the company that has ambitious plans for global expansion.

Rieks Smook is Rabobank’s new head of capital markets, Asia, replacing Guy Hargreaves, who has left the bank, sources told GlobalCapital Asia.

A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads.

Pelabuhan Indonesia II’s $1bn loan opened into general syndication on October 3. The loan was a long time coming, having been around since May as the borrower awaited regulatory approvals.