Sumitomo Mitsui Financial Group

Indonesian state-owned electricity company Perusahaan Listrik Negara has cancelled a $300m loan, after receiving a capital injection from the government.

With the Australia’s big domestic banks avoiding the capital markets thanks to excess liquidity and cheap central bank funding, Aussie dollar investors are searching for somewhere to park their excess cash – with foreign banks offering one way to pick up the slack.

Two Middle Eastern borrowers are tapping the Asian loan market as part of a new syndication strategy, taking advantage of the slow primary supply in Asia.

Banque Fédérative du Crédit Mutuel made its annual visit to the Samurai bond market this week, raising ¥63.6bn ($600m) across three tranches in a senior preferred format.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.

International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.

Hungarian oil and gas company Mol on Thursday raised a seven year bond in euros.

Export-Import Bank of India has closed the syndication of a $500m loan after securing eight banks.

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

Hungary returned to the Samurai market after a two year absence on Friday to sell the first ever sovereign green bond in the market, which formed part of its ¥62.7bn (€500m) four tranche deal, which the sovereign used to extend its debt curve while also introducing a new investor base to the credit.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.