MUFG

Volkswagen Financial Services had been conspicuous by its absence in the euro corporate bond market in the first quarter of 2018. Having been the largest corporate issuer by volume in 2017, the company had used other markets so far this year before selling a new triple tranche deal.

Volkswagen Financial Services had been conspicuous by its absence in the euro corporate bond market in the first quarter of 2018. Having been the largest corporate issuer by volume in 2017, the company had used other markets so far this year before selling a new triple tranche deal.

Ghana Cocoa Board (Cocobod) has sent off invitations to its annual financing for its cocoa harvest amid concerns it may struggle to repay its previous loan.

Commodity trader Glencore has ramped up the size of its short term revolver by almost $4bn between syndication launch and signing, with dozens of banks piling into the refinancing exercise in the latest example of deal starved lenders scrabbling for places to put money to work.

Solusi Tunas Pratama, an Indonesian telecommunications company, has launched a $577m-equivalent dual-currency loan denominated in dollars and rupiah into general syndication.

Adira Dinamika Multi Finance, an Indonesian finance company, has launched a $250m term loan into general syndication, about seven months after sealing its previous fundraising.

Turk Eximbank has signed a €544m loan, above its launch amount of €300m, to refinance debt and support its business backing exporters.

Saudi Arabia has had to scale back banks grappling to get on its $16bn loan, which will be used to refinance a $10bn loan taken out in 2016.

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.

Anheuser-Busch InBev timed a $10bn multi-trancher to perfection this week as it jumped into the market to extend maturities ahead of the Federal Reserve’s rate interest rate hike.

US health insurer Cigna has agreed a $26.7bn bridge loan from two banks as part of its deal to buy Express Scripts, in a transaction lenders say highlights how deep liquidity is in the market.

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.