India

India’s divestment body has sent out requests for proposals seeking firms to run divestments in a host of companies from the energy sector to shipbuilding and weapons manufacturing.

Oil India is returning to dollar bonds, launching a new 10 year offering on Tuesday morning, with the aim of paying off debt related to its 2016 Russian oilfield acquisitions.

The third largest private sector bank in India, Axis Bank, has provided a $295m loan to Aster DM Healthcare after it failed to alter the terms on a previous loan.

Eight lenders will arrange a $750m five year borrowing for an entity in the Vedanta Group, in a deal that has been in discussion since January.

Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication.

India Power Corp has launched a two day offer for sale of secondary shares that could be worth Rp13.5bn ($209.6m), according to stock exchange data.

India’s central bank will allow the country’s lenders to invest in real estate and infrastructure investment trusts, the latest in a series of regulations aimed at bringing the asset class to life.

China Everbright Greentech (CEG) is drumming up interest for a $500m Hong Kong IPO, with investor meetings starting this week, said bankers on the deal.

India’s JSW Steel raised $500m from its new five year notes on Wednesday, finding strong support from European accounts familiar with its credit and business.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, has selected three banks for a $500m term loan to replace a bridge from last year. The oil firm is also raising funds in yen, and has picked two Japanese lenders for the financing, said a source.

The OECD’s arguments in favour of a higher credit rating are backed by many analysts – so when will the ratings agencies catch up?

November 8, 2016, will go down in history as the day Donald Trump, a real estate mogul and reality TV host, was elected the 45th president of the United States and leader of the free world. But, in India, it marks a perhaps equally surreal event: demonetization. Can the scrapping of bank notes used in the bulk of the nation’s cash transactions finally catapult this long-time financial laggard into the 21st century?