India

Inner Mongolia-based China Shengmu Organic Milk is testing appetite in the syndicated loan market for a $120m three year facility and is offering banks an attractive yield of more than 300bp.

It’s funny how public perception of something can be completely opposite to reality.

India’s Dewan Housing Finance held a non-deal roadshow in Taipei on December 9 just a few weeks after sealing an offshore dollar loan.

India’s Reliance Industries has selected a group of 13 lenders for a $1bn loan that will refinance a borrowing raised in 2010.

New rules on Indian offshore borrowings have dismayed local bankers as it bans them from participating in offshore deals for non-bank financial corporations and firms that support infrastructure — the bread and butter of their loans business. But the changes are not a bad thing and will shake Indian lenders out of their complacency.

A pair of Indian healthcare companies, Alkem Laboratories and Dr Lal Pathlabs, launched their respective IPOs on Tuesday and have already managed to attract plenty of investor interest.

Bharat Oman Refineries (BORL), which sent out a request for proposal for a loan of $125m in October, has mandated a group of three banks for the financing.

The Reserve Bank of India has come out with a new framework for raising offshore debt, with one of the rules preventing non-banking financial corporations (NBFCs) from issuing anything other than rupee denominated debt.

The Pakistan Stock Exchange (PSE) is set to launch on January 1 in a keenly-anticipated ceremony that will be attended by top government officials and foreign investors eyeing a stake in the soon-to-be unified bourse.

The Securities and Exchange Board of India (Sebi) is one step closer to having a formal framework for its green bond market, having launched a public consultation this week.

India’s securities regulator finally gave the thumbs up to the listing of its two stock exchanges this week, a project that has been in the works since the turn of the century. The move is a huge milestone, and market watchers hope it will give the bourses more clout to stay on top of their game, writes John Loh.

Philippine property developer DM Wenceslao and Associates, which was expected to open books for its IPO of around Ps10.73bn ($227m) this week, has pulled the plug on the transaction until next year.