Indian loan market wakes up, with deals expected to feature fresh MLAB names

Bharat Petroleum Corp (BPCL) has picked three banks to lead its $250m loan, creating a stir in the market because of the absence of Indian and Japanese names in the bookrunning group, writes Rashmi Kumar. But the explosion of Indian state-owned companies into the loan market over the past six months will soon be reflected in the make-up of top level groups as more lenders decide to take the plunge, said bankers.