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The Reserve Bank of India on Wednesday gave its blessing to JSW Steel's plans to raise $200m in a structured transaction. The seven year loan required regulatory approval because the lender of record is a special purpose vehicle rather than a financial institution. ABN Amro has already been joined by KBC Bank, KfW and Standard Chartered, all of which earn the title of mandated lead arranger. A general syndication will be launched with roadshows in the Middle East next week followed by Singapore shortly after.

DBS Bank, DZ Bank, Natexis Banques Populaires and Raiffeisen Zentralbank Österreich have been named as mandated arrangers of a $65m one year facility for Bank Negara Indonesia. The deal offers an all-in yield of 60bp over Libor and will be launched into syndication in the next two weeks.

Syndication of the $300m five year loan for commodity trader Olam International closed on Wednesday with a total of 15 banks committing to the deal. DBS Bank, HSBC, Rabobank and Standard Chartered are mandated lead arrangers.

The first loan to a Hong Kong theme park operator since 2000 has closed with 22 banks committing money. Like the Hong Kong Disneyland project financing six years ago, the HK$4.16bn ($537m) project loan for Ocean Park — a government owned theme park that is being redeveloped — was heavily oversubscribed.

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Rating: A2/A-/A-

Despite the supercharged corporate bond market in Europe last week, the Asian bond market remained lacklustre this week, weakened by the impact of falling stockmarkets in Asia and around the world, and a sell-off in emerging market sovereign bonds.

Rising short term interest rates in Hong Kong have drawn a pack of issuers to the market to take advantage of a robust domestic bid this week, with at least HK$2.75bn ($355m) of new issues printed since last Friday.