Commonwealth Bank of Australia

BoC Aviation has soared into the syndicated loan market for a $300m unsecured borrowing, launching the deal with four banks at the top.

Banks have rarely been considered paragons of virtue, but never have they been as vilified as they are today. After the bail-outs, a seemingly endless procession of misconduct has left ethically-minded customers holding their noses while reaching for debit cards. But against the backdrop of scandal and suspicion, banks are doing more than ever to demonstrate to customers that they are doing the right thing. Owen Sanderson reports.

Korean banks have pulled back from the Samurai market, as funding costs have moved against them, but some other names have stepped into the breach. Australian banks are a key fixture in the Samurai markets, while the arrival of Maybank this year gives a pointer to future issuance. Asia Pacific financial institutions issuers are also proving instrumental in the steady development of the Pro-Bond market. Volatility in China, however, is not helping anybody. In September, some of Asia Pacific’s leadering FIG borrowers spoke to GlobalCapital about prospects in the Japanese capital markets.

The China foreign exchange trade system (CFETS) published a list of the first institutions to be granted access to the Chinese interbank bond market (CIBM) since a streamlined programme was introduced in July.

The recent volatility experienced across global markets proved no obstacle to a RMBS trade from Commonwealth Bank of Australia. While the jittery market did force CBA to price at the investor-friendly end of guidance, the Australian bank managed to raise A$2bn ($1.4bn), double what it originally conveyed.

Commonwealth Bank of Australia (CBA) is back in the RMBS market with an A$1bn ($718m) transaction that is due to price on Friday.

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Banks are processing approvals for a loan of around $300m to back the purchase of Ciro’s Plaza in Shanghai.