Sumitomo Mitsui Financial Group

Trig, the London-listed renewable infrastructure investment firm, has signed a £500m loan with its margin linked to Sonia rather than Libor, as loans bankers try to encourage borrowers look at their loan documents soon to avoid bottlenecks next year.

Former JP Morgan banker Luke Lee has joined Sumitomo Mitsui Banking Corp’s Hong Kong office in a senior position.

Louis Dreyfus, the Dutch agricultural trading company, has amended and extended revolving credit facilities totaling $697.6m, weeks after the company got its first investment grade rating.

Macquarie achieved a decade low print for a five year Australian dollar floater this week, as the lack of supply from financial issuers in 2020 has sent spreads grinding downwards.

China Construction Bank priced a Rmb8.4bn Jianyuan 2020-12 residential mortgage-backed securities (RMBS) this week, attaching two international ratings to an all-floating rate deal.

The allocation of Indonesian instant noodle maker Indofood CBP Sukses Makmur’s $2.05bn-equivalent acquisition loan has been finalised, after the lead banks closed the syndication earlier this month.

Qatar National Bank, by assets the largest bank in the Middle East and North Africa, has raised a dual tranche $3.5bn syndicated loan, one of the largest emerging market loans signed this year.

India’s JB Chemicals & Pharmaceuticals has wrapped up a $206m loan to support KKR’s acquisition of a majority stake in the company.

Indonesian instant noodle maker Indofood CBP Sukses Makmur has closed syndication of its $2.05bn-equivalent acquisition loan. The allocations are expected to be out in the next few weeks.

Commodities trading company Glencore Agriculture is making its loan debut in Asia, seeking $300m from the syndication market as a way to establish itself in the region and show its independence from its parent. The thin pricing on offer means only banks keen to build a relationship with the company in the hope of getting ancillary business will jump in, writes Pan Yue.

Despite a recent deal surge, investors and issuers are set to pull away from the primary market with just one full week left to go before the US presidential election.

Three banks rode out a volatile bond market this week, printing senior deals amid positive sentiment caused by talks making it seem an agreement about a new US Covid-19 stimulus package was closer on Tuesday.