South Asia
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Sri Lankan commercial lender Sampath Bank is following in the footsteps of the sovereign by tapping the loan market for funds, launching a $50m borrowing with an unspecified greenshoe. -
Glenmark Pharmaceuticals sealed its debut $200m international bond at a yield of 4.5% on Monday, which bankers on the deal said was the tightest pricing achieved by an Indian high yield name.
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India’s state-owned holding company has revised some of the terms in its plan to sell down the government’s stakes in 51 companies, grouping together share sales in Axis Bank, ITC and Larsen & Toubro.
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The scorching pace of Indian IPOs looks set to continue as Dilip Buildcon prepares to launch a Rp6.53bn ($97.5m) listing next week, with bankers expecting a solid response from investors.
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Indian conglomerate Aditya Birla Group is understood to be in talks with banks for a syndicated loan for one of its flagship businesses, Grasim Industries.
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China’s Fenghui Leasing Co obtained a first-time rating on Tuesday ahead of its offshore debut in dollars while India’s Adani Transmission has ditched a potential Masala bond in favour of just selling dollars.
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India’s Metropolis Healthcare has mandated Credit Suisse and Kotak Mahindra Capital as the leads for its up to Rp10bn ($149m) IPO.
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India’s largest energy conglomerate NTPC is poised to pick banks to work on its upcoming Masala bond that could hit the market as early as the first week of August.
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South Korea’s Kookmin Bank and Indian’s Glenmark Pharmaceuticals ventured out to the dollar debt market on Monday with their respective bonds.
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The government of Sri Lanka’s $300m three year borrowing has received a chunky commitment in syndication, according to a source.
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India’s state divestment unit has sent out a request for proposals to appoint up to three banks for its sell down in National Buildings Construction Corp, which could fetch Rp22.65bn ($338.04m).
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Oil India has extended the deadline for submission of bids for its request for proposals seeking a $650m loan with a $200m greenshoe, according to two bankers.
