India

Yes Bank, India’s fifth largest private sector bank, has found good demand for its $1bn equity capital raising on a round of investor pre-marketing meetings.

Stuart Tait has been named HSBC’s new regional head of commercial banking, Asia Pacific, replacing Paul Skelton who has decided to leave the firm to pursue other opportunities.

Three Indian state-owned oil companies have hit the loan market for fresh money to support their joint acquisition of oil fields in Russia. Several banks are keen to submit bids but the adverse impact from US sanctions on Russia could pose a challenge, writes Shruti Chaturvedi.

Asia’s equity capital markets had a ghastly first quarter before making a slow turnaround, but market watchers are calling for more from the second half of the year. Safe bets such as real estate investment trusts are expected to be hot, while insulated regions such as south and southeast Asia are likely to be a growing source of business. Jonathan Breen reports.

The Asian debt market has followed up strongly on Bank of China’s successful $3bn green bond, with five deals launched on Thursday and more expected.

India’s HT Global IT Solutions Holdings is set to give a lift to the Asian high yield market, launching a $300m deal on Thursday with price guidance set at a hefty 7.625% area.

India’s PNB Housing Finance has filed a draft prospectus for a listing that could raise as much as Rp25bn ($369.7m), putting it on track to be one of the country’s largest IPOs this year.

Indian state-owned oil companies Bharat Petroleum Corp, Indian Oil Corp and Oil India have sent out separate requests for proposals for borrowings totalling $1.9bn to finance their acquisition of a stake in an East Siberian oilfield.

Metropolis Healthcare is planning to ride on the strong interest among investors in India’s healthcare sector and sell shares in an IPO.

Indian company Piramal Healthcare has sealed a $145m refinancing bridge loan with four lenders.

Nomura has added a pair of bankers to its Asia ex-Japan equity capital markets team, according to sources familiar with the matter.

It was high yield that sprung back to life in Asia this week, while investment grade counterparts remained on the sidelines amid a cautious environment. Market participants remain hopeful that the region’s high yield market will benefit from a possible Brexit-driven pivot from European investors, write Narae Kim and Max Bower.