India
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A $425m loan for India’s Chambal Fertilisers and Chemicals is in limited syndication, with invitations sent to just two or three lenders. -
Parag Milk Foods has thrown open books for its Rp7.7bn ($115.7m) IPO in India, after placing a huge chunk of the trade in the hands of 17 anchor investors.
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Indian companies are showing interest in issuing offshore rupee-denominated, or Masala, bonds but a leading financier warns that the market will not heat up until the central bank allows private banks to fund deals.
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Vodafone has mandated six banks for the IPO of its Indian arm, which could raise up to $2.5bn, according to sources close to the situation.
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Indian mortgage lender HDFC is in the final stages of signing up lenders for a $375m borrowing, according to two sources.
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India’s Ujjivan Financial Services is planning to price its Rp8.8bn ($132.7m) float at the top of the range after investors across the board placed their orders at that level, according to a source close to the deal.
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Indian state-owned hydropower producer NHPC has wrapped up its Rp27bn ($406.4m) offer for sale, which saw a quick flood of demand from institutional investors but a weak response from retail buyers.
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Investors have covered 20% of Ujjivan Financial Services’ Rp8.8bn ($132.3m) Indian IPO by the second day of bookbuilding.
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It has been a promising start to the year for leveraged buyout loans (LBOs) for Indian companies. With Chinese banks aggressively capturing domestically sponsored outbound M&A funding, international lenders are looking elsewhere for opportunities and India is proving a hit, writes Shruti Chaturvedi.
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StanChart veteran Lim retires — Lam given top China job at Citi — Citi India banker heads to HDFC Bank — BNP Paribas hires Ratliff for senior role
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A multi-currency loan for Sino Horizon Holdings has been launched into syndication via one bank. But as the facility size is relatively small, not all lenders will be able to get a piece of the deal.
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Parag Milk Foods has set the price range for its Indian IPO that will raise up to Rp7.67bn ($115.16m), laying the groundwork to open books for the float mid next week.
