Sumitomo Mitsui Financial Group

Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.

After its successful debut in the Chinese ABS market, Genius Auto Finance, the joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, scored an equally popular follow-up deal at an even tighter price.

State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.

Element Materials Technology, the UK materials testing company owned by Bridgepoint, was looking for a small loan extension this week, and seeking consent from its investors for higher leverage ratios under the loan covenants.

Austrian oil and gas company OMV sold its first senior corporate bonds of 2018 on Monday after it attracted €3.9bn of demand for a pair of €500m notes with five year and 10 year tenors.

Four borrowers piled into the dollar bond market on Thursday, adding to one of the busiest weeks of the year despite tough market conditions. UK telecoms company BT led the charge with a $1.35bn two-part deal.

After testing the market with a single tranche Rmb1.94bn ($284m) note in August, carmaker Geely will launch a bigger deal with a more complex structure.

Mercuria Energy Group bagged a bigger-than-expected $1.35bn from its latest annual revolver in Asia, after 36 banks joined the deal.

On Monday, Austrian oil and gas company OMV’s first senior corporate bonds of 2018 attracted €3.9bn of total demand for a pair of €500m notes with five year and 10 year tenors. The demand allowed the issuer to tighten the spread by more than 20bp on the longer tranche.

Takeda Pharmaceutical, the Japanese firm buying UK rival Shire, defied tough market conditions to press ahead with a $5.5bn trade to help fund its $62.5bn acquisition ahead of the Thanksgiving holiday.

Indonesian motorcycle financing firm Federal International Finance (FIF) has doubled the size of its fundraising to $400m after finding support from a 22-strong syndicate group.

Japanese pharmaceuticals company Takeda implemented the first part of its financing of a £46bn takeover of UK biotech firm Shire on Thursday. The company used a six tranche combination to raise €7.5bn on its debut in the euro market.