Sumitomo Mitsui Financial Group
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Indian company ONGC Videsh has mandated four banks for a $500m fundraising, which is likely to be syndicated next month. -
The ESG capital markets were left reeling on Thursday after a group of banks provided a £1.1bn-equivalent sustainability-linked facility that does not have any key performance indicators included — on the agreement that the borrower will add them within 12 months. Mike Turner reports.
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A spate of UK borrowers have signed loans that use Sonia as the benchmark rate from day one this week, with the consistently tricky transition given some cheer after companies said that the process is fairly simple.
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Grosvenor Group, the UK property company, has signed a £1.1bn-equivalent sustainability linked revolving credit facility, while taking the unusual step of not formulating complete key performance indicators before signing.
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BBGI Global Infrastructure, a London-listed infrastructure investment company, has become the latest company from its sector to refinance its main bank line, with the company planning to use the funds for major transactions and acquisitions.
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Geely Automobile Holdings’ 80%-owned Genius Auto Finance is returning to China’s onshore market with a Rmb4.5bn ($705m) ABS next week, three months after getting away with an aggressive pricing for its first transaction of 2021.
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Crédit Agricole issued a callable Samurai bond this week that will reset to a spread over the local government bond curve, as the yen market transitions away from Libor ahead of its cessation later this year.
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SMBC Nikko has hired Markus Steilen as managing director and head of continental European debt syndicate, based in Frankfurt, as it expands its capital markets capabilities in the region.
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HICL Infrastructure, a London-listed infrastructure investment company, has refinanced its £400m revolving credit facility, with the company shifting the benchmark to risk-free rates and adding five sustainability metrics.
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SMBC Nikko has hired another official from Commerzbank as it builds up its bond business in Europe.
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The ABS frenzy in China’s domestic market continued unabated this week, with three more originators launching their transactions. This included BYD Auto Finance Co, which made its internationally rated debut.
