Westpac

A $550m three tranche borrowing for Bank Rakyat Indonesia (BRI) has launched into general syndication, but not all the mandated lead arrangers and bookrunners are looking to sell down.

Commodities trader Trafigura has seen big success with its syndicated loan, bumping up its fundraising to $2.2bn from the launch size of $1.6bn.

Indian conglomerate Reliance Industries has opened its $1.47bn dual-currency loan into general syndication, with four participation levels available to lenders.

Indian conglomerate Reliance Industries has picked a big group of banks for refinancing a $1.5bn loan raised three years ago.

Several former bankers from Royal Bank of Scotland have joined new institutions recently, as the UK firm continues to dismantle a large part of its Asia business.

Szekely departs StanChart HK DCM – CBA boosts Asia loans – Capital Markets Malaysia gains new chief – China Renaissance hires new M&A co-head

Westpac has hired a former banker from Royal Bank of Scotland to bolster its Hong Kong-based debt capital markets business.

A $550m borrowing for Bank Rakyat Indonesia’s (BRI), which is due to be prefunded by a club of 11 banks, is expected to go into general syndication. Lenders are waiting for Bank Indonesia approval and are targeting signing by the end of August, with the first drawdown in the first week of September.

This November would mark three years since Australia’s Westpac strengthened its foray into India, with the opening of a branch in Mumbai. With an eight year presence in India under its belt, the bank is keen to develop relationships and offer more of its capabilities in trade finance, structured commodity finance and other products.

Westpac Banking Corp has completed a swift, efficient foray into the Singapore dollar market, printing Basel III tier two notes on August 4. Demand was such that the borrower was able to price the bond by late afternoon and still manage to meet its pricing and diversification goals.