Sumitomo Mitsui Financial Group

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

Hungary returned to the Samurai market after a two year absence on Friday to sell the first ever sovereign green bond in the market, which formed part of its ¥62.7bn (€500m) four tranche deal, which the sovereign used to extend its debt curve while also introducing a new investor base to the credit.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

The Arab Republic of Egypt — a frequent bond issuer — has signed its first syndicated loan. Egypt’s debut in the market, bankers said, is an attempt to diversify its funding to support an expanding state budget, just months after its debut green bond was delayed due to Covid-19. Mariam Meskin reports.

Covered bond issuers were urged to do their toughest covered bond trades in the wake of an outstanding result on Thursday for Sumitomo Mitsui Banking Corporation, which attracted a deeper and broader range of higher quality demand for its first negative yielding structured covered bond than any of its previous deals.

Sumitomo Mitsui Banking Corporation sent a positive signal to hesitant Asian covered bond issuers on Thursday when it was set to price its first negative yielding covered bond, attracting a deeper and broader scale of demand than on any of its previous deals.

Saudi Basic Industries Corporation (Sabic) is seeking to raise a dual tranche offering this week. The deal is the latest in a flurry of trades from Gulf issuers seeking to take advantage of attractive market conditions amid low oil prices and increasing Covid-19 related costs.

Indofood CBP Sukses Makmur, an Indonesian instant noodle maker, has launched a $2.05bn-equivalent acquisition loan into syndication. The rare appearance of a strong credit in the market this year means banks appear eager to join the deal, writes Pan Yue.

Genius Auto Finance sealed a Rmb4.5bn ($651m) three tranche auto loan securitization trade on Thursday, setting the stage for a steady revival of the Chinese auto ABS market.

JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.

Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.