Asia Pacific

Tata Steel is in discussions with lenders for a $2bn borrowing to fund a proposed expansion in India and take out some debt raised by its European unit, said sources.

The Chinese president emphasises the need to control financial risk at a key economic policy forum, Pakistan considers using the renminbi instead of the dollar in bilateral trade with China, and China Development Bank sells $350m of bonds in Hong Kong to help fund the Belt and Road Initiative (BRI).

Thai Beverage Public Co has enlisted the help of three banks for a 12-month bridge facility to support its acquisition of a stake in Vietnamese brewer Saigon Beer Alcohol Beverage Corp (Sabeco), said sources close to the trade.

India’s ReNew Power Ventures has hired three banks to helm its long-expected $700m IPO next year, said sources close to the matter.

Lodha Developers is looking to make its debut in the Indian equity market next year, having put together a syndicate of three banks to run its IPO.

The board of India’s Housing Development Finance Corp has given it the green light to sell new shares to the tune of Rp130bn ($2bn), part of which will flow through to its banking arm.

Jiaxing City Investment and Development Group Co began marketing its first dollar bond on Thursday, following a roadshow earlier this week.

International Finance Corp has joined forces with Goldman Sachs to extend a $110m syndicated loan to Vietnam’s An Binh Commercial Joint Stock Bank, a portion of which will be used to provide loans to women-owned enterprises in the country.

China Oceanwide International Financial has mooted a HK$18.3bn ($2.3bn) rights issue to be used mostly for its securities business.

The Securities Commission (SC) of Malaysia announced new guidelines for sustainable and responsible investment funds on Tuesday.

Shangrao City Construction Investment Development Group (SCID) has grabbed $300m from its debut international bond in the quiet December market.

China is to launch its first national carbon trading scheme, a move that could ultimately bring closer the introduction of a global, interconnected carbon market. But experts said the scope and impact of the scheme would be limited at first.