Sumitomo Mitsui Financial Group

China’s securitization market was bustling with deals this week. Toyota Motor Finance (China) Co followed Beijing Hyundai Auto Finance Co to launch a Rmb5bn ($774m) auto loan ABS deal, with two more transactions also in the works.

Beijing Hyundai Auto Finance Co has kicked off its onshore auto loan ABS issuance for the second half of the year, returning with yet another revolving deal under the Autopia China series.

Aligning with a global commercial bank has been on Jefferies’ agenda for several years, but its alliance with SMBC signals an intent to join the investment banking big league. By David Rothnie.

SMBC has beefed up its coverage of the technology sector with the addition of two senior bankers in San Francisco who previously worked together at HSBC.

India’s largest ever leveraged buyout loan, tied to Blackstone’s stake purchase in IT services company Mphasis, is in the market, after inviting a wide group of banks to participate in general syndication.

Japan’s Sumitomo Mitsui Financial Group has formed an alliance with Jefferies and is providing the US investment bank with capital to pursue its ambitions in leveraged finance.

State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is in the market for a $790m loan, its largest offshore facility yet.

Private equity firm Blackstone is raising $1.1bn to support its purchase of a stake in Indian IT company Mphasis. The deal is set to be the largest leveraged buyout loan in the country — and comes with a group of 13 bookrunners at the top. Pan Yue reports.

Commodities company Trafigura’s Singapore arm is making its annual return to the Asian loan market, this time opting for a sustainability-linked facility.

ONGC Videsh, the overseas subsidiary of Indian state-owned Oil and Natural Gas Corp, has launched a $500m loan into general syndication. It is targeting a broad group of lenders for the fundraising, owing to lending caps imposed on banks.

Indian Oil Corp has mandated three banks for its $500m loan return, after inviting firms to bid for the transaction last month.

Indian software services provider Coforge, previously known as NIIT Technologies, is seeking a loan to fund a dividend recapitalisation, joining a growing list of companies raising debt to pay a special dividend to shareholders.