Westpac

Far East Horizon has closed its largest syndicated loan at just over $1bn, after banks jumped onboard the fundraising.

Far East Horizon is making a rapid comeback with an $800m fundraising just two months after allocating an identical loan, confident that banks will gobble it up.

Westpac raised Swiss franc bonds on Monday, reaffirming the idea that financial institutions are best placed to act opportunistically in the Swiss market this year.

Peking University Founder Group Company and Bank of Communications Financial Leasing Co used keepwell deeds for their dollar bond sales on Thursday, paying a bit of premium for the structure.

Wall Street’s biggest banks hit the dollar bond market with multi-billion offerings after reporting fourth quarter earnings this week, and supply-starved investors piled into the new deals.

Chinese issuers Peking University Founder Group, Bank of Communications Financial Leasing Co, Geely Automobile Holdings and Jinjiang International Holding are meeting investors this week ahead of planned dollar and euro bond sales.

India’s Yes Bank is extending a fundraising spree that began last year, and is back in the overseas loan market for the third time since August 2017.

Westpac attracted substantial demand for its five year sterling floating rate deal on Thursday, with considerable investor liquidity ensuring a particularly attractive cost of funding.

Westpac has mandated leads for the third sterling five year floating rate covered bond from a bank outside the UK to be issued this year.

Westpac Banking Corp raised Rmb500m ($77m) from a three year offshore renminbi bond on Monday, becoming the first dim sum note issuer of 2018.

Westpac Banking Corp is poised to sell the first offshore renminbi bond of the year, opening books for a three year trade on Monday.

LBBW, Santander UK and Westpac all enjoyed fair demand for seven year covered bonds issued this week, suggesting good scope for further issuance in this tenor.