India

Bharat PetroResources International (BPRL) and Rural Electrification Corp have sent out requests for proposals, seeking a total of $950m worth of loans between them.

The Reserve Bank of India has proposed a new framework that eases rules for borrowers raising external debt, five months after the government released a report that recommended overhauling and liberalising the existing system.

Asiamoney is pleased to present its choices for Asia’s Best Managed Companies 2015. The winners were the firms that impressed us the most through a combination of factors including innovation, financial performance and strategic execution, and after also surveying the views of regional analysts and investors. Our congratulations to all those chosen.

ReNew Power Ventures has become the second Indian corporate to issue a green bond, coming close on the heels of the maiden deal from the country. With a credit enhanced structure, the company was able to enjoy a substantial pricing benefit.

A $145m loan backing the Blackstone Group’s acquisition of the Indian business process outsourcing (BPO) operations of the Serco Group is likely to launch this week.

Ashok Leyland is seeking to list its commercial vehicles financing arm, Hinduja Leyland Finance, in an IPO expected to raise around $100m, according to sources close to the transaction.

Rural Electrification Corp is seeking a new $150m five year loan and sent out a request for proposals (RFP) this week, marking a quick return to the debt market.

Indian conglomerate Reliance Industries has picked a big group of banks for refinancing a $1.5bn loan raised three years ago.

India’s Tata Steel has sold down a portion of its stake in automotive unit Tata Motors, pricing the Rp12.5bn ($188.6m) transaction at the bottom of guidance in a trade heavily supported by hedge funds.

More details have emerged on a request for proposals (RFP) sent by Bharat PetroResources International (BPRL), which is seeking a new $650m loan.

Indian pharmaceutical companies are creating a buzz in the loan market by seeking debt to fund outbound acquisitions. While other sectors in the country are yet to kick off such spending in a big way, the pharmaceutical industry has been an exception, and bankers are hoping for more opportunities to finance purchases. Shruti Chaturvedi reports.

India is trying to get its life insurers out from between a rock and a hard place by pushing ahead with new legislation to ease the way for their IPOs. The move has been a long time coming, but any marquee public offerings from the country’s life insurance firms are still at least a year away, writes John Loh.