India

India finally has a formal green bond framework after the Securities and Exchange Board of India (Sebi) approved a draft proposal released at the end of last year.

Vedanta Resources has launched a tender offer for a portion of its $1.25bn 5.5% convertible bonds due this year to be executed via a modified Dutch auction method, according to its dealer banks.

Citi has created a consolidated Asia Pacific debt syndicate team as it seeks to take advantage of the growing relevance of local currency markets, according to an internal memo seen by GlobalCapital Asia.

Tata Motors has made a rapid return to the international loan market for a refinancing worth $250m, launching the deal just a few weeks after signing a $600m fundraising.

India’s IDBI Bank has named a group of seven banks to manage a qualified institutional placement, according to a source involved in the transaction.

Loans bankers have traded in cautious optimism for realism this year, as weaker currencies and loosening monetary conditions across Asia are expected to weigh on demand for foreign currency debt. Even silver linings such as a potential pick-up in loan activity from India and increased outbound M&A will provide little respite, writes Shruti Chaturvedi.

Allocations are out for a $145m loan backing the Blackstone Group’s acquisition of Serco’s business process outsourcing assets in India.

India’s stock market regulator has published consultation papers on real estate and infrastructure investment trusts while Singapore’s financial regulatory authority has firmed up its rules for real estate investment trusts (Reits).

Barclays is preparing to let go of investment banking staff in Asia as the UK lender continues to wind down its presence in non-core markets.

Two senior bankers from Royal Bank of Scotland’s defunct Asian loans division have moved to Banco Santander.

Indian state-owned companies Power Finance Corp (PFC) and Rural Electrification Corp (REC) have sent out requests for proposals for loans worth a collective $520m. The invitations come close on the heels of the Reserve Bank of India’s announcement of a new framework to regulate overseas borrowings.

India’s stock market regulator has published a consultation paper on real estate investment trusts (Reits) while Singapore’s financial regulatory authority has firmed up rules governing the asset class.