Sumitomo Mitsui Financial Group

Bank of the Philippine Islands (BPI) is poised to make its debut in the international syndicated loan market with a $250m fundraising.

A $300m dual-tranche loan for a subsidiary of palm oil producer Golden-Agri Resources has wrapped up with just two new banks coming in.

Sumitomo Mitsui Finance and Lease Co issued on March 23 ¥5bn ($44.1m) of six month commercial paper with a yield of -0.001%, becoming Japan’s first private company to sell negative yielding debt.

Oil and gas company KrisEnergy has extended a $111m revolver by one year, according to a release last Friday.

Taiwanese conglomerate Formosa Plastics Group has increased the size of its latest borrowing to $3.5bn from $2.5bn.

State Bank of India launched its $500m fundraising into general syndication on Tuesday via eight mandated lead arrangers and bookrunners.

Syndication has closed for a $975m refinancing for India’s Reliance Industries, with four new lenders coming in.

TCC Group subsidiary Berli Jucker Public Co has signed up nine lenders for a €3.2bn ($3.5bn) portion of a larger loan to support its acquisition of retailer Big C Supercenter.

Saudi Aramco and China Petrochemical Corp (Sinopec) will complete the $4.7bn loan for their joint venture refinery within the next week, according to bankers.

Saka Energi Indonesia, the upstream oil and gas arm of state-owned Perusahaan Gas Negara, has signed its $600m loan, finding demand from seven lenders in syndication.

The dollar FIG market enjoyed its busiest week of the year as banks emerged from the sidelines to dominate the primary market following a two week rally in credit spreads.

Sumitomo Mitsui Banking Corp sold half its stake in India’s Kotak Mahindra Capital this week, raising Rp20.69bn ($300m) in the year’s first block trade in the country. And in a rare case, the deal managed to bypass the problem of slippage typical with sell-downs in India. Jonathan Breen reports.