Sumitomo Mitsui Financial Group

Turkey’s Garanti Bank has raised a $592.4m-equivalent ESG-linked syndicated loan — the first of its kind signed by a bank. The deal, despite being launched at the beginning of the coronavirus crisis, went successfully, according to bankers, following a string of refinancings by other Turkish banks.

Indonesian palm oil producer Perkebunan Nusantara III (PTPN) is seeking consent from banks to delay payments on a dollar loan, given expectations of a hit to its business because of the Covid-19 pandemic. But bankers told GlobalCapital Asia this week that the state-owned company has enough cash to make the payments, with the syndicate team set to reject its deferral request. Pan Yue reports.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.

Saudi Aramco, the world’s largest oil company, is hunting for a $10bn loan, according to market sources. Plummeting oil prices will send borrowers across the Gulf scrambling to raise financing. But creditors seem happy to plough money into the region, for now. Mariam Meskin reports.

Reliance Industries is seeking commitments from banks for a ¥38bn ($351m) Samurai loan in senior syndication. The Indian company’s deal is part of a two-tranche dollar and yen-denominated transaction worth about $1.45bn.

The UK's Imperial Brands, formerly Imperial Tobacco, has signed a new €3.5bn three year multi-currency revolving credit facility, slightly increasing its main bank line, despite not having plans to draw down.

Singapore hard disk drive company MMI International is looking to amend and extend an old loan ahead of a looming maturity, as it faces pressure on its financials.

Sumitomo Mitsui Banking Corp is planning to issue a Rmb1bn ($144m) three year Panda bond soon, a banker on the deal told GlobalCapital China.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.

Tanzania’s Ministry of Finance has raised a $1.46bn loan — its largest foreign loan to date — to finance the construction of a railway from Dar es Salaam to the centre of the country. The loan is being provided by a number of development banks and credit agencies.

Trans Retail Indonesia has caused a stir by deciding to structure its new syndicated loan with a relatively rare two-stage participation fee payment. Although not all banks will be wholeheartedly on board, the borrower’s move is savvy under the circumstances.