Asia Pacific

India’s most valuable lender, HDFC Bank, showed why it deserves the title this week, as it bagged $2.2bn from a dual-tranche fundraising that combined soaring demand for its shares at home and abroad. John Loh and Jonathan Breen report.

It’s not easy being green, but some bond issuers are finding it easier to be sustainable. Global issuers have embraced green bonds, using the funds raised to benefit environmentally-friendly projects. But as more issuers and investors look to align their finances with socially responsible investment options, some issuers are finding the green label to be limiting. Welcome the sustainability bond, writes Morgan Davis.

Indian companies are seeking chunky loans this year, with Tata Steel and Reliance Industries looking for $3.1bn and $2.7bn respectively. Bankers, who say Indian borrowers are still able to enjoy attractive pricing, expect more companies to take the opportunity for a cheaper refinancing. Pan Yue reports.

GAM Investments said it had suspended all subscriptions and redemptions in its unconstrained/absolute return bond funds, following “a high level of redemption requests”.

FMO has printed an onshore Georgian lari bond for the first time, with proceeds helping a drive to de-dollarise Georgia’s economy.

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

As Asian exchanges increasingly embrace the US model for new listings — the introduction of variable voting rights being a case in point — disintermediated IPOs may perhaps soon be the next fad, writes Clawback.

India's SBI Capital Markets will no longer provide debt syndication or resolution services for private sector companies.

KWG Group Holdings raised $350m from a three non call two year bond on Tuesday, but an aggressive tightening of 32.5bp resulted in the order book dropping by half from its peak.

India’s HDFC Bank has raised $2.22bn through a qualified institutional placement and a concurrent sale of American Depository Shares (ADS).

Singapore’s Wilmar International has bumped up the size of its dual-tranche borrowing to $1.8bn after attracting 24 participants during syndication.

CreditAccess Grameen is poised to raise Rp11bn ($165m) from its IPO in India, which will kick off next Wednesday.