South Asia
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India's Shriram Transport Finance Corp is tapping the loan market for a $350m five year borrowing, its first dollar-denominated fundraising. -
Gaurav Bhagat, Standard Chartered’s head of capital markets for financial institutions group in South Asia, has left the bank.
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India’s Reliance Communcations (RCom) tender and exchange offer, unveiled last week, would clear the issuer’s books of its $300m 6.5% 2020 bond. But since RCom defaulted on a payment for the notes last November, it is in no position to offer investors such paltry tender and exchange terms.
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India’s Tata Motors has closed the senior syndication of an offshore loan worth $237.6m, helping the company fund the buyback of bonds due in 2020.
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MUFG Bank has named ex-Royal Bank of Scotland executive Gyan Harlalka as head of global markets for India.
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CreditAccess Grameen has raised Rp11.3bn ($161.7m) after pricing its flotation in India at the best terms for the issuer, a banker on the deal said.
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Mrs. Bectors Food Specialities is planning to float for as much as Rp8bn ($114.4m), having filed a draft prospectus with the Indian regulator.
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Auto components maker Sansera Engineering has begun pre-deal investor education for an IPO that could raise up to Rp15bn ($215.9m), according to a source close to the deal.
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Reliance Communications’ 2020 bond, which the company defaulted on last year, suffered a tumultuous week, hitting a new low after the telecoms company offered to buy back the $300m senior notes at a steep discount.
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Dodla Dairy submitted a listing application to the Indian regulator on Thursday, eyeing the sale of both new and existing shares.
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Credit Suisse and Standard Chartered are providing a $1.1bn loan to back the delisting of Indian metal and mining company Vedanta Resources from the London Stock Exchange.
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ASK Investment Managers has filed a draft prospectus with India’s securities regulator as it plans to go public through an IPO of new and existing stock.
