India
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IDBI Bank’s top management are doing the rounds with investors as they try to drum up interest for a Rp38bn ($561.3m) qualified institutional placement. -
HSBC Global Asset Management has appointed Ravi Menon as its new chief executive officer of India, effective on February 1.
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Indian company UPL is making a return to the international syndicated loan market after a break of nearly 10 years with a $200m borrowing.
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Indian data service provider Tata Communications is understood to be in talks with lenders for a loan of $250m.
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Indian company Cadila Healthcare is gearing up for a Rp50bn ($741.1m) qualified institutional placement after the country’s Foreign Investment Promotion Board gave it the go ahead this week.
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Yogesh Aggarwal has been appointed as the India research head at HSBC, according to a press release.
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Citi has created a consolidated Asia Pacific debt syndicate team to sniff out opportunities in local currency issuance, while Deutsche Bank has appointed a senior executive to head debt syndicate and origination in the region.
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January kicked off with China front and centre as the upheaval in its stock market caused indices across the globe to tumble. South and southeast Asia did not escape unscathed but the chances are that when markets stabilise, investors will be eager for equity issuance from the region.
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Export-Import Bank of India (India Exim) has become the first credit outside of north Asia to sell a bond in the region this year, printing a $500m trade on January 13.
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A seven year borrowing of up to $500m for state-owned Indian company National Thermal Power Corp (NTPC) has become the first to be stymied by a change in guidelines to foreign currency debt issuance by domestic companies.
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The Asia ex-Japan debt capital market was crowded with dollar issuers on January 13, with two investment grade bonds and two high yield notes opening in the morning.
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A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has gone into general syndication, offering incoming banks all-ins below 112bp.
