Standard Chartered

Nigeria’s First City Monument Bank (FCMB) will close a $75m loan this week, in a deal that cuts FCMB’s dollar syndicated loans from $150m to $75m.

Korea’s Asiana Airlines has swooped into the syndicated loan market for a $150m deal, picking two banks to run it.

India’s Jindal Steel & Power is understood to have asked banks to relax a covenant on a $400m borrowing sealed in April 2013.

China Huarong Asset Management has lined up 15 banks for what will be its second outing of the year, while Beijing Properties is looking to make its offshore debut.

They knew it was coming, but even seasoned bankers at Standard Chartered could not easily shrug off this week’s update from chief executive Bill Winters about the scope and scale of cuts due at the bank.

South Africa’s Investec Bank is accessing the syndicated loan market for the fifth time this year, and is shaking things up by tapping Asian bank liquidity for a $100m three year borrowing.

Tata Chemicals Europe’s £140m ($216m) dual-tranche facility has been launched into limited syndication, marking the borrower’s return to the syndicated loan market after a four year break.

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC). The deal is expected to take place quite soon, two sources with knowledge of the trade told GlobalRMB.

Standard Chartered has been given the nod for its debut Panda bond issuance from the People’s Bank of China (PBoC) and the deal is expected to take place quite soon, two sources with knowledge of the trade have told GlobalRMB.

Several of Europe’s largest banks, including Santander and Credit Suisse, have been raising equity capital this year to satisfy regulators. But FIG ECM specialists believe this is coming to an end. Taking its place will be the re-privatisations of nationalised banks, and on the horizon, a return of mergers among banks. Olivier Holmey reports.

Investment banks all want the same things — more capital, smaller loan books, and more concentration on more profitable business. When banks announce a turnaround, they should be judged on specifics, not aspirations, and on this, Standard Chartered’s strategy update is pretty watery fare.

The Republic of Cameroon is embarking on a roadshow in Europe and the US on Thursday.