Rabobank

Vitol, the Switzerland-headquartered oil trader, has signed its annual loan refinancing, increasing the loans from $7.5bn to $8bn.

Oil trader Vitol is expected to finish its annual financing of flagship loans by Wednesday, according to a banker on the deal.

Commodity trader Gunvor has launched its $1bn annual loan refinancing, following a deal for its Asian subsidiary that doubled in size after strong demand from lenders.

Rabobank was a fitting credit to tackle a still uncertain FIG primary market on Monday, pulling in nearly €2bn of orders for a short floater as bankers fretted over further supply.

Rabobank has said the German response to total loss-absorbing capacity (TLAC) rules places senior unsecured debt at risk, and advised against its adoption as a Europe-wide solution.

Rabobank has said the German response to total loss-absorbing capacity (TLAC) places senior unsecured debt at risk, and advised against its adoption as a Europe wide solution.

Maybank became the first Asia Pacific issuer to launch a Pro-Bond in May 2014. It was the bank’s first foray into the Japanese capital markets, and also represented a useful shot in the arm for the fledgling Pro-Bond initiative. Maybank has since graduated to a Samurai, allowing a useful comparison between the two markets.

Japan’s corporate bond issuers are facing razor-thin pricing in their domestic market, able to get away with thinner spreads than they have pulled off for years. But the new spread environment has not made everyone happy — and bond volumes have tumbled as a result. Matthew Thomas reports.

European banks have been the mainstay of the Samurai market over the last 12 months, and the market has repaid them with loyalty. When European markets were shut during the Greek crisis, Japan stayed open for familiar names, rewarding those who have made the effort to build relationships and a track record. Here, eight issuers and two banks describe their experience.

Vitol held a bank meeting last week to refinance its flagship loans. The Swiss-headquartered firm will not increase the loan from $7.5bn, according to bankers.

NL Financial Investments, the organisation that handles the Dutch state’s shareholdings, has selected eight investment banks as bookrunners and co-lead managers for ABN Amro’s highly anticipated flotation.

August is on course to become 2015’s busiest month for bank medium term note issuance in sterling, as cash rich investors are drawn to positive spreads over quarterly Libor.