South Asia

Banks bidding for a spot on the Indian government’s Rp36.9bn ($549.1m) sell down in NMDC have been told to match the Rp1 fee proposed by Citi or risk losing out, according to sources.

State Bank of India has allocated its latest $500m borrowing, finding demand from eight new lenders during syndication.

The Indian government has decided to offload a 10% stake in Housing and Urban Development Corp (Hudco) via an IPO.

Reliance Big Entertainment US has approached the Asian syndicated loan market for a $100m deal, bringing a rarely seen film production name to lenders. While there are some concerns over its cash flows, the borrower is mitigating those fears with two credit enhancements. Shruti Chaturvedi reports.

China may have grabbed the spotlight after its MSCI review this week but Pakistan was the real winner with its upgrade to emerging market status. Bankers expect the move will light a fire under equity capital markets and give a big boost to IPOs, especially in sectors like infrastructure. John Loh reports.

Barclays names new HK chief — Lee leaves Goldman loans team — Chadha departs from Deutsche — DBS India finds new banking head — Huray for RHB IB

CIMB has made 16 people redundant in investment banking and equities, the second time the Malaysian lender has cut regional jobs this year amid a slump in deal flow.

National Bank of Abu Dhabi is betting big on India’s fast growing economy, after opening a branch in Mumbai last November. The bank has ambitious plans for south Asia, its chief executive for India told GlobalCapital Asia recently.

Pakistan’s equity capital market is set for a big boost from MSCI’s decision to return the country to emerging market status after a seven year hiatus, with bankers expecting foreign investors to pour into stocks.

Reliance Big Entertainment US, part of India’s Reliance Anil Dhirubhai Ambani Group (Reliance ADAG), is tapping lenders for a $100m three year trade with one bank at the helm.

DBS India has appointed Niraj Mittal as managing director and head of institutional banking for the country, according to a press release issued on Tuesday.

National Bank of Abu Dhabi is betting big on India’s fast growing economy having opened a branch in Mumbai. While the purchase of Royal Bank of Scotland’s Indian foreign currency corporate loan book has given momentum to its business, the firm has bigger ambitions, NBAD’s chief executive officer for India told Shruti Chaturvedi.