Yen

India’s Reliance Jio Infocomm has launched the biggest Samurai loan from an Asian company into general syndication, as it looks to leverage on Japanese onshore liquidity.

Reliance Jio Infocomm, the mobile network operator controlled by India’s Reliance Industries, has raised ¥53.5bn ($498m), the largest Samurai loan for an Asian corporation.

Public sector bankers lined up to laud a new SSA borrower this week, as the International Development Association (IDA) surpassed expectations on its bond debut. Now, many are eager to see the its next move, with many anticipating a Washington supranational with greater currency flexibility, writes Craig McGlashan.

Indian power financier National Thermal Power Corp (NTPC) has closed its $350m-equivalent yen-denominated borrowing, attracting eight Japanese participants.

China Eastern Airlines Corp has raised ¥50bn ($468m) in Tokyo’s Pro-Bond market, breaking new ground in Japan with a standby letter of credit (SBLC) structure. Some bankers reckon the deal could be the first of many to come.

Two Indonesian finance companies that serve customers in the automobile sector have launched deals in quick succession.

Indian Railway Finance Corp has turned heads in the loan market with its request for up to $250m of 10 year money. While some market participants balked at the idea of 10 year commercial loans, those at the firm’s main target audience — Japanese banks — think the deal is worth a look. Shruti Chaturvedi reports.

A $350m-equivalent yen denominated borrowing for Indian power financier National Thermal Power Corp (NTPC) has entered primary syndication, testing the market’s appetite for a 10 year maturity.

Yes Bank has dipped its toes into the Japanese Samurai loan market for the first time to raise ¥16.5bn ($150m), placing it among a handful of Indian firms that have tapped into yen liquidity. The move could inspire other Indian financial institutions to follow — provided the pricing advantage holds. John Loh reports.

India’s Yes Bank has raised ¥16.5bn ($150m) in its maiden foray to the Japanese Samurai loan market, coming close on the heels of a $250m syndicated financing tied up with Taiwanese lenders a month ago.

Indian state-owned company Power Finance Corp (PFC) has sent a request for proposals for a loan of up to $300m, seven months after a failed attempt to raise $100m-equivalent from a 10 year deal.

International investors are recognising the progress that Abenomics has made in turning around Japan’s recently moribund economy. The long-awaited acceleration in domestic demand is finally taking place, while business confidence is high. But can this progress be maintained while inflation and government finances remain weak and North Korea pushes the region towards conflict?