Sumitomo Mitsui Financial Group

Stability of foreign currency funding is a priority for Sumitomo Mitsui Banking Corporation and covered bonds provide a new level of balance in this regard, according to the bank’s head of treasury. Since other borrowers in Japan are sure to be thinking along the same lines, the market for Japan's covered bond is likely to have tremendous scope for growth.

Japan’s Takeda Pharmaceutical Co has signed $8.8bn-equivalent of loans as it continues to build up its cash pile to finance the $62bn acquisition of Ireland’s Shire.

Sumitomo Mitsui Banking Corporation has set a strong precedent for Japan’s nascent covered bond market by attracting a comfortably oversubscribed, diverse, high quality order book for its first deal, the first from Japan.

State Bank of India has mandated seven banks for a $500m offshore borrowing, returning to the market just two months after closing its last facility.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Xinyi Glass has dropped a non-financial covenant on its HK$750m ($96m) borrowing, which was launched into general syndication in August.

Indian electricity utility firm Tata Power has launched a $245m refinancing loan into general syndication after mandating five banks last month.

Japan’s Sumitomo Mitsui was one of two benchmark issuers in dollars in a week cut short by holidays, as markets were battered by volatility ahead of the start of US bank earnings season.

Sumitomo Mitsui Banking Corporation (SMBC) has mandated leads to roadshow the first ever Japanese covered bond. The RMBS-backed deal is expected to appeal to a broad universe of traditional investors and will set the tone for Japanese megabanks and other borrowers in what could be a rich supply vein for covered bond investors.

Comcast got October off to a flyer after high-grade corporate dollar issuance slumped to its weakest level for four years in third quarter. However, aside from Comcast there were slim pickings in the high-grade market this week.

Indonesian power company Perusahaan Listrik Negara has closed its debut offshore loan after exercising part of the greenshoe option.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.