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Executive is moving to more senior role
India is on track for a record year of IPOs. Global tech giants continue to plough capital into a fast-growing consumer economy that is investing heavily in ensuring it’s a major player — along with the US and China — in an AI-first world
◆ Deal finds demand despite arrest of South Korea's president ◆ High single digit concession left for investors ◆ Leads added spread to calm concerns
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  • Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have approached retail lenders for a joint borrowing of $200m.
  • Chinese local government financing vehicle Huzhou Communications bagged Rmb500m ($73.1m) this week in its first offshore renminbi offering.
  • State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.
  • Policy lender China Development Bank printed a dual-currency, three-tranche transaction on Tuesday, raising $2.4bn-equivalent. While it paid just a couple of basis points of new issue premium for the dollar bonds amid a short-lived market rally, demand for the euro portion exceeded expectations.
  • Patrick Kwan, the former co-head of Barclays’ investment banking unit in Asia, has returned to the banking industry with Credit Suisse.
  • The political upheaval in Sri Lanka since October led S&P and Fitch to downgrade the sovereign’s ratings this week, following a similar move by Moody’s in November. All three agencies have pointed to heightened refinancing risks, with a weak rupee and rising bond yields restraining the country’s access to capital markets.
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