Standard Chartered

Standard Chartered has rearranged its primary and secondary debt business, creating a global credit markets team that will be run by Henrik Raber, its long-time capital markets head.

Geely and BNP Paribas’s auto finance joint venture hit the Chinese securitization market with a bang on Tuesday, as domestic investors oversubscribed its single tranche sale by three times. The deal came a week before Mercedes is scheduled to launch a similarly structured transaction, which will be its first in China this year.

The UK’s Petrofac has signed $300m of new bank facilities, as the emerging markets focused oil and gas services company looks to cut back on the use of its existing revolving credit facility.

The currency crisis in Turkey has prompted analysts to hone in on the balance sheets of European banks, as they look for the first signs of an increase in income volatility following the introduction of the new IFRS 9 accounting standard.

Singaporean hard-drive manufacturer MMI International is seeking a $205m loan, mainly to refinance an old borrowing sealed in 2015.

Credit Suisse and Standard Chartered are providing a $1.1bn loan to back the delisting of Indian metal and mining company Vedanta Resources from the London Stock Exchange.

A Shanghai-based joint venture between carmaker Geely and BNP Paribas is to enter the Chinese auto loans securitization market for the first time next week. The company will test demand with a Rmb1.94bn ($284m) deal, selling just one tranche to investors in the interbank bond market.

The lending arm of Ford’s China operation took advantage of bullish sentiments in the onshore market on August 2, sealing a Rmb4.5bn ($662.3m) securitization. Bankers say Ford managed to price below Nissan, which offered a similar ABS recently, thanks to a major policy announcement that emerged last week.

India’s Power Finance Corp raised $300m from a 10 year bullet bond on Thursday. While the issuer was able to pull off a tight price for its second issuance in less than a year, many investors were unconvinced about the credit's worth.

KWG Group Holdings raised $350m from a three non call two year bond on Tuesday, but an aggressive tightening of 32.5bp resulted in the order book dropping by half from its peak.

Lotte Property and Development Co debuted in the sustainable bond market on Tuesday with a floating rate three year note. While the sustainability label drew some attention to the $200m transaction, it was the issuer’s Kookmin Bank guarantee that swayed investors.

Reliance Industries has made a quick return to the offshore loan market with a $2.7bn refinancing deal, having picked 17 banks to act as mandated lead arrangers and bookrunners.