Sumitomo Mitsui Financial Group

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.

Indian Railway Finance Corp has returned to the Japanese market for a $300m-equivalent Samurai loan.

Philippine oil refining and marketing company Petron has warned its lenders about a potential covenant breach on two of its dollar loans.

Indonesian state-owned electricity company Perusahaan Listrik Negara has changed tack on its loan plans in a bid to seal thinly priced deals in a difficult market environment, writes Pan Yue.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

Olam International has made a quick return to the loan market, raising a ¥25bn ($233m) Samurai facility.

Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.

Yankee banks ensured a record-breaking first half ended on a high, as European lenders took advantage of strong demand for tier two paper.