India
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Mahindra Logistics has announced the price range for its IPO, which is expected to launch at the end of October. -
Indian lender Yes Bank has decided to increase size of its five year syndicated loan, which was marketed to Taiwanese banks, to $250m from $200m, said a banker close to the trade.
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The Indian operators of Hyderabad Airport pulled off the tightest high yield dollar corporate bond ever sold in India on Thursday, despite the Diwali public holiday.
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The operator of Hyderabad’s international airport launched its debut dollar bond on Thursday morning, following a global roadshow last week.
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A $2.5bn refinancing by Reliance Industries (RIL) and its telecommunications arm, Reliance Jio Infocomm, has been opened to retail participants.
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A $500m borrowing by Indian lender HDFC Bank has attracted four participants during general syndication. Allocations have emerged for the deal, which was signed in September.
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Piramal Enterprises has closed what bankers are touting as the first offering of mandatory convertible bonds in India through a qualified institutional placement, with the deal bagging close to $1bn in investor orders.
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The possible return of recapitalisation bonds after a two decade absence could help India tackle a triple threat of a stressed banking sector, rising leverage among corporates and challenges to the public financial system
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The mandate for Reliance Industries’ $2.5bn refinancing has been revealed. The deal will consist of three portions, the bulk of which will replace a $1.5bn loan taken by one of its subsidiaries in late 2014.
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India’s Piramal Enterprises is in the market with an unusual sale of mandatory convertible bonds through a qualified institutional placement, part of a fundraising drive to that could fetch up to Rp70bn ($1.1bn).
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Debt owed by India’s 29 states has doubled over the past five years to $304bn, triggering calls by analysts on the central government to impose regulations or face the danger of following China down a path of over-indebtedness
