Sumitomo Mitsui Financial Group

French building materials producer Saint Gobain received overwhelming demand for its second benchmark issuance of 2018. A combined order book of €7bn meant the issuer could have sold a much larger deal than the €1bn size limit it imposed on itself.

French electrical utility Engie found success with a benchmark dual tranche issue of corporate bonds on its third visit to the euro bond market in 2018. The company opted for no-grows with both tranches, which served to increase demand markedly compared with its previous deal.

Indonesian motorcycle financing firm Federal International Finance (FIF) has returned to the offshore loan market for a $200m borrowing.

Two Chinese companies, Grand Baoxin Auto Group and Xinyi Glass, are tapping the offshore loan market for new financings.

A top Chinese automaker and Hong Kong listed-Xinyi Glass Holdings are separately sounding out banks for new syndicated financings.

A pair of Chinese borrowers broke the lull in new loan syndications from north Asia this week, seeking a combined $450m from their latest fundraisings.

CPI Ronghe Financial Leasing is in the market for its second international loan after wrapping up a successful debut last November.

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

CPI Ronghe Financial Leasing, a subsidiary of State Power Investment Corp, has made a quick return to the loan market for $300m, nine months after signing its last borrowing.

Mercedes-Benz Auto Finance has completed the tightest auto asset-backed securitization by any foreign originator in China in almost two years. The deal, which closed on Monday, was twice oversubscribed despite two underwriters dropping out of the syndicate at the eleventh hour.

Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.

The lending arm of Ford’s China operation took advantage of bullish sentiments in the onshore market on August 2, sealing a Rmb4.5bn ($662.3m) securitization. Bankers say Ford managed to price below Nissan, which offered a similar ABS recently, thanks to a major policy announcement that emerged last week.