ANZ

Embattled China Hongqiao Group’s banks have given it a reprieve from a credit crunch, after consenting to a covenant waiver on its $700m syndicated loan.

State Grid Corporation of China, China Huarong Asset Management Co and State Development & Investment Corporation have mandated banks for new bonds, with the latter making its debut in the international market.

Rural Electrification Corp chose not to exercise the greenshoe option on its $230m five year borrowing, resulting in a huge scaleback for many of its lenders.

Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication.

Everbright Financial Leasing Co is seeking a $200m three year facility through a single mandated lead arranger and bookrunner.

Ant Financial subsidiary Alipay (Hong Kong) Holding has launched a $3bn debut syndication via a nine-member bookrunner group. The strong showing at the top is driven by opportunities to cross-sell higher fee-generating products such as private banking, equity advisory and underwriting services to the Alibaba Group-affiliated borrower, reports Shruti Chaturvedi.

Sumitomo Mitsui Banking Corp and ANZ are making changes to their loans businesses in Singapore. SMBC is building up its distribution capabilities, while ANZ is looking to replace a senior banker.

Nine mandated lead arrangers and bookrunners have invited lenders to join the international loan market debut of Ant Financial subsidiary, Alipay (Hong Kong) Holding. The money will partly be used to support Ant’s bid to acquire MoneyGram.

Chinese iron and steel making conglomerate Hesteel Group Co has snapped up $500m on the back of a price rally in the steel sector onshore, with bankers praising the company’s efforts to woo accounts during a roadshow.

Senior loans banker Sean Joseph left ANZ Bank on Friday, according to a source close to the matter.

Issuers from Greater China are dominating the dollar debt market, as they vie for investor attention on Thursday alongside a couple of south and southeast Asian names.

Allocations have emerged for a $1.75bn multi-tranche borrowing by Indian conglomerate Reliance Industries, with retail liquidity ending up concentrated on a longer dated portion.