Sumitomo Mitsui Financial Group

A top Chinese automaker and Hong Kong listed-Xinyi Glass Holdings are separately sounding out banks for new syndicated financings.

A pair of Chinese borrowers broke the lull in new loan syndications from north Asia this week, seeking a combined $450m from their latest fundraisings.

CPI Ronghe Financial Leasing is in the market for its second international loan after wrapping up a successful debut last November.

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

CPI Ronghe Financial Leasing, a subsidiary of State Power Investment Corp, has made a quick return to the loan market for $300m, nine months after signing its last borrowing.

Mercedes-Benz Auto Finance has completed the tightest auto asset-backed securitization by any foreign originator in China in almost two years. The deal, which closed on Monday, was twice oversubscribed despite two underwriters dropping out of the syndicate at the eleventh hour.

Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.

The lending arm of Ford’s China operation took advantage of bullish sentiments in the onshore market on August 2, sealing a Rmb4.5bn ($662.3m) securitization. Bankers say Ford managed to price below Nissan, which offered a similar ABS recently, thanks to a major policy announcement that emerged last week.

Housing Development Finance Corporation has launched a $750m loan into general syndication, after attracting one extra bank at the senior level.

Reliance Industries has made a quick return to the offshore loan market with a $2.7bn refinancing deal, having picked 17 banks to act as mandated lead arrangers and bookrunners.

Commodities trader Trafigura is back in the market with a three tranche loan that will be worth around $1.5bn.

Dongfeng Nissan Auto Finance enjoyed strong support from its traditional investor base — Chinese banks and onshore arms of Japanese banks — as it sold a Rmb4.5bn ($665.7m) securitization on July 19. The deal came as looser onshore liquidity gave banks more cash to buy ABS papers.