South Asia
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Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication. -
India Power Corp has launched a two day offer for sale of secondary shares that could be worth Rp13.5bn ($209.6m), according to stock exchange data.
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India’s central bank will allow the country’s lenders to invest in real estate and infrastructure investment trusts, the latest in a series of regulations aimed at bringing the asset class to life.
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China Everbright Greentech (CEG) is drumming up interest for a $500m Hong Kong IPO, with investor meetings starting this week, said bankers on the deal.
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India’s JSW Steel raised $500m from its new five year notes on Wednesday, finding strong support from European accounts familiar with its credit and business.
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ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, has selected three banks for a $500m term loan to replace a bridge from last year. The oil firm is also raising funds in yen, and has picked two Japanese lenders for the financing, said a source.
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Pakistan and its bankers have enjoyed a purple patch since 2013, when the IMF rescued the country from a near-death experience. There are encouraging signs of a sustainable period of growth, much of it being driven by investor demand. But, with elections looming, can the country continue to build on its hard-won gains?
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China and Pakistan like to describe their relationship as sweeter than honey and stronger than steel. As a huge China-backed project to overhaul Pakistan’s creaking infrastructure takes shape, Pakistani bankers are steeling themselves to discover just how sweet that Chinese investment might be
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The OECD’s arguments in favour of a higher credit rating are backed by many analysts – so when will the ratings agencies catch up?
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November 8, 2016, will go down in history as the day Donald Trump, a real estate mogul and reality TV host, was elected the 45th president of the United States and leader of the free world. But, in India, it marks a perhaps equally surreal event: demonetization. Can the scrapping of bank notes used in the bulk of the nation’s cash transactions finally catapult this long-time financial laggard into the 21st century?
