• Indian borrowers forced to rethink pricing as HPCL, TVS loans struggle

    Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.

    • 30 Jul 2020
  • IRFC taps Japan for $300m Samurai

    Indian Railway Finance Corp has returned to the Japanese market for a $300m-equivalent Samurai loan.

    • 27 Jul 2020
  • Yes Bank closes share sale undersubscribed, SBI Caps steps in

    India’s Yes Bank ended its Rp150.2bn ($2bn) share sale without enough demand to cover the deal, after a low turnout from individual investors.

    • 20 Jul 2020
  • Yes Bank fronts Indian ECM comeback with $2bn share sale

    Banks are leading a revival in ECM business in India, with Yes Bank gunning for $2bn this week. There are also signs of activity in the country’s moribund IPO market, writes Jonathan Breen.

    • 16 Jul 2020
  • India’s Yes Bank kicks off $2bn share sale

    Troubled lender Yes Bank has hit the market with an issue of fresh equity, with the deal covered at the open by pre-launch demand, according to bankers close to the trade.

    • 15 Jul 2020
  • Indian banks have a rough road ahead

    India’s banking sector has long been in trouble. However, while a few banks can appeal to the equity capital markets to restore their capital levels — and their reputations — this won’t be easy or cheap.

    • 14 Jul 2020
  • Onshore vs offshore: Indian banks mull capital issuance

    A slew of Indian banks are turning to additional tier one and tier two instruments to raise their capital levels. But an expensive international debt market means the majority of the issuance is likely to take place onshore in rupees.

    • 13 Jul 2020

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.45
2 Industrial and Commercial Bank of China (ICBC) 13.56
3 China Merchants Bank Co 12.10
4 China Construction Bank (CCB) 9.85
5 Agricultural Bank of China (ABC) 8.93

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 22.44 89 7.39%
2 CITIC Securities 19.78 121 6.52%
3 China International Capital Corp Ltd 19.76 95 6.51%
4 Goldman Sachs 17.76 107 5.85%
5 China Securities Co Ltd 15.52 60 5.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 HSBC 28.85 223 7.62%
2 Citi 28.41 169 7.50%
3 JPMorgan 19.37 134 5.12%
4 BofA Securities 18.70 103 4.94%
5 Standard Chartered Bank 17.89 163 4.72%

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