MUFG

Petron ups loan to $475m — PFC closes $250m — UAF gets HK$825m

Philippine oil refining company Petron Corp has closed its fundraising at $475m, higher than the launch size of $300m, with 17 lenders joining during general syndication.

The Kingdom of Bahrain will price its 30 year transaction at a yield of 6% on September 10. The offering is the first dollar bond from the country this year.

The Kingdom of Bahrain was on track to price the first dollar bond from the country this year on Tuesday, having released initial price thoughts for a 30 year bullet bond on Tuesday at low 6%.

The Republic of Turkey is planning to revise price guidance for its Samurai note later on Monday in London, but is not making the new range known until the Tokyo open on Tuesday morning. The deal is expected to be priced next week.

India’s state-owned Power Finance Corp (PFC) has issued allocations for its $250m five year loan that hit general syndication in July.

Chinese state-owned conglomerate Citic has wound up its $1bn dual tranche loan with three banks joining during general syndication.

Europe’s corporate bond market burst into full scale action on Wednesday, after two weeks of sporadic new issuance. A €3bn deal from Sanofi, the French pharmaceuticals company, was joined by €1bn from Toyota Motor Credit Corp, €500m from property company Foncière des Régions and yet another small deal from Volvo (see separate stories).

Mobile phone maker Xiaomi launched its $1bn dual tranche loan into general on Tuesday afternoon, following a successful senior phase during which 17 banks joined for the bookrunner and mandated lead arranger title.

Jiu Ding International and Dynamic Apex Macao Commercial Offshore, subsidiaries of Taiwanese notebook casings maker Ju Teng International, have sealed a $200m triple tranche three year financing.

Europe’s corporate bond market burst into full scale action today, after two weeks of sporadic new issuance. A €3bn deal from Sanofi, the French pharmaceuticals company, was joined by €1bn from Toyota Motor Credit Corp, €500m from property company Foncière des Régions and yet another small deal from Volvo (see separate story).

Svenska Handelsbanken sold its second ever Samurai print on Thursday, drawing a comfortably subscribed order book for a five tranche deal. BNP Paribas is expected to follow the issuer into the yen market next week, helping boost an already strong year for Samurai volumes.