India

Yuexiu gets two for Shanghai tower acquisition loan — Healthy demand for Dongfeng Peugeot loan — ONGC Videsh sounds lenders for refi

ICICI Bank had a fantastic outcome to its first US dollar issuance of the year, raising $500m this week with no new issue concession and even getting the seal of approval from bankers away from the deal.

India’s Yes Bank made waves this week selling only its second green bond on August 5. The the Rp3.15bn ($49.2m) 10 year trade is backed by the world’s first green Masala debt issued by International Finance Corp (IFC).

ICICI Bank is back for more dollars for a new five year bond on August 5, its first outing in 2015.

Nomura has hired Shantanu Sahai from Barclays as its executive director in debt capital markets Asia ex-Japan to drive its Indian bond business, according to an internal memo seen by GlobalCapital Asia.

International Finance Corp (IFC) has sold the world’s first green Masala bond. The deal is only the second green bond in the Indian currency and the sixth offshore rupee trade globally.

Investors could not get enough of India’s Syngene International as a more than 32x covered book helped propel the biotech firm to price its Rp5.5bn ($86m) IPO at the top of its indicative price range.

Bharat Petroleum Corp (BPCL) subsidiary Bharat PetroResources (BPRL) has mandated one lender for a $150m facility. The proceeds of the loan are for capital expenditure.

Chery HuiYin Motor Finance Service Co is seeking to list in Hong Kong via sole sponsor CICC. The automotive financing company filed a preliminary prospectus with the stock exchange on July 31.

Power Finance Corp (PFC) defied gravity on July 27 when the Indian government pulled the trigger on its divestment of a 5% stake, raising the targeted Rp16bn ($250m) even after China worries sent markets tumbling.

India kicked off its yearly divestment programme with a bang this month after it called for banks to pitch for a fresh round of stake sales. But foreign banks have given it the cold shoulder, with only Deutsche Bank showing up to bid. Bankers are split on whether the government’s new approach will help or hurt its divestment plans, as John Loh reports.

HealthCare Global Enterprises has filed a preliminary prospectus to list in India, with the $125m IPO led by Goldman Sachs and a swath of local banks, including Edelweiss, IDFC, IIFL, Kotak Mahindra Capital and Yes Bank.