Westpac

It was a g’day for Citibank on Friday, as the issuer returned to the Australian dollar market to print its largest ever Kangaroo, according to Dealogic. In recent weeks, the Aussie market has presented a good alternative for FIG issuers looking to sell senior unsecured debt.

Reliance Industries is tapping the Japanese yen market as part of a $1.5bn dual-currency loan syndication.

BOC Aviation sold its second dollar bond of the year on Tuesday, snapping up $750m from the sale of a 5.5 year trade, after raising $500m from a five year bullet in January.

Regular Kangaroo issuer Daimler came to the market on Thursday with its first Australian dollar issuance of 2019. Through its Australian entity, Mercedes-Benz Australia/Pacific, Daimler sold an A$150m ($106.2m) 2.5% March 2022 unsubordinated bond.

Far East Horizon has opened into syndication a $580m-equivalent three year term loan via six mandated lead arrangers and bookrunners.

Shandong Qingyuan Group has closed a $430m one year self-arranged club loan with five participants.

A rally in the debt market and Indian Oil Corp’s (IOC) scarcity value buoyed the company’s return to dollar bond investors for the first time since 2013, allowing it to add a chunky $900m to its coffers.

Westpac issued the first dollar covered bond of the year this week, while its New Zealand subsidiary hit the euro market following the demand unearthed by an earlier deal from ANZ New Zealand.

Better late than never. After a sluggish start to the year, international activity in the Swiss franc market finally began in mid-week when Westpac priced the first Australian covered bond in Swissies since a Sfr200m National Australia Bank (NAB) trade in January 2014.

Indian Oil Corp is in the market with a $1.3bn financing, in yet another sign the country’s famously stingy borrowers are allowing pricing to inch up.

Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.

State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.