MUFG

The Ministry of Japan has picked the banks that will lead the IPO of Japan Post Holdings, in a deal that is expected to be in the region of $15bn-$20bn and add a sizeable chunk to ECM volumes from the country.

Beijing Enterprises Water Group has wrapped up its ADB ‘B’ loan at $288m, nearly double the launch size of $120m, as the presence of the supranational and SOE backing proved to be big draws for banks.

Pelabuhan Indonesia II’s $1bn five year loan, which has been in gestation since May, is expected to launch in the next few days, said bankers.

Five lenders have committed to join Indian company Rural Electrification Corp’s $170m loan. The transaction is the greenshoe portion of a larger borrowing. Funds for the original $230m have already been provided by the six bookrunners and mandated lead arrangers, which are syndicating the greenshoe on a best efforts basis.

Tuesday had been a slippery day in the European corporate bond market, as a fall in equities caused two new issues to find underwhelming demand – a knock-on effect that has not happened for a long time. But by Thursday that was all forgotten. Four deals were launched, three of them triple-B rated and three of them 10 years, and all went well.

A Japanese lender has joined the eleven leads on Tata Steel’s multi-currency jumbo fundraising and three to four more banks are expected to come in before the loan goes into general.

Reliance Jio Infocomm, the telecoms subsidiary of Indian conglomerate Reliance Industries, opened its $1.5bn dual facility refinancing loan for general syndication on September 19, with a mandated lead arranger and bookrunner group of 15 banks.

Bank of Tokyo Mitsubishi UFJ has lost a senior banker from its loan syndication business in London.

Reliance Industries’ telecom arm Reliance Jio Infocomm launched its $1.5bn dual facility refinancing loan into general syndication on Friday, after cementing a mandated lead arranger and bookrunner group with 15 banks.

The Asian arm of Mercuria Energy Group has launched its $1bn triple tranche revolving loan into general, with a consortium of 10 mandated lead arrangers and bookrunners. The loan features one tranche that has a swingline option and another that comes with a utilisation fee.

Taiwan Cement Corp has sealed its dual tranche loan at $1.07bn, higher than the launch size of $1bn, with 14 banks joining the four original mandated lead arrangers and bookrunners in general syndication.

Reliance Industries’ telecom arm Reliance Jio Infocomm has picked a consortium of 15 banks to lead its $1.5bn refinancing.