India

2019 is likely to be another year where the independent mandate of central bankers comes under pressure from populist politicians in democracies. It is easy for those in the market to sympathise with the quiet technocrats over the loud-mouthed headbangers, but scrutiny is deserved.

Indian Oil Corp is in the market with a $1.3bn financing, in yet another sign the country’s famously stingy borrowers are allowing pricing to inch up.

Five countries in Asia are due to hold general elections in 2019, meaning uncertainty for capital markets is likely to be commonplace. With markets already wobbling under global pressures, surprise election results could have catastrophic effects. Bankers and investors should be prepared for a bumpy ride.

Housing Development Finance Corp is taking the Samurai loan route for its second syndicated financing of the year.

Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.

State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.

Indian companies should be allowed to list offshore if they meet certain criteria, a Securities and Exchange Board of India (Sebi) committee has recommended. The committee also approved several possible destinations.

Nomura hires for Greater China ECM, rejigs SG coverage – ANZ levfin banker relocates – Loh joins Scotiabank Apac syndications – RBI loosens hedging rules

Indian state-owned Power Finance Corp had to abandon a new change of control language to keep investors focused on its $500m 10 year bond issuance, which was printed amid talks of a possible merger.

India’s Power Finance Corp has invited banks to bid for a new five year financing, in its second visit to the syndicated loan market in 2018.

Mumbai-headquartered Metropolis Healthcare has been given the go ahead to list by the Securities and Exchange Board of India, paving the way for an equity sale by two shareholders.

India’s Housing Development Finance Corp (HDFC) sold a privately placed offshore rupee bond this week, giving an inkling of hope to what has been a lacklustre market.