South Asia

Indian mortgage lender Housing Development Finance Corp (HDFC) is gearing up for what could potentially be the country’s first rupee-denominated offshore bond, also known as a Masala bond.

A $500m five year loan for Stats ChipPac, which launched in mid September, has received commitments from three banks, according to sources familiar with the deal.

InterGlobe Aviation and SH Kelkar & Co have found huge success with their respective Indian IPOs, with all books multiple times covered by a flood of investors.

Tata Chemicals Europe’s £140m ($216m) dual-tranche facility has been launched into limited syndication, marking the borrower’s return to the syndicated loan market after a four year break.

Pakistan eyes life insurance IPO — SECP gives nod for unified stock exchange — BW Pacific sets sail for Oslo

Doha Bank is the latest lender to join the parade of financial institutions looking to gain access to Asian bank liquidity for their syndicated loans. The lender has launched a $500m fundraising that requires a chunky minimum commitment.

Sri Lanka’s Bank of Ceylon is seeking a fundraising of up to $200m, returning to loans after a two year absence. But while the borrower is approaching lenders at a time when they are very liquid, it may struggle to woo new banks, writes Shruti Chaturvedi.

The Privatisation Commission of Pakistan has issued a request for proposals to firms to help lead a sell-down in State Life Insurance Corp (SLIC).

India’s Aditya Birla Group, which has been in discussions with its relationship banks about refinancing a loan raised in 2011, is likely to launch a new $925m deal before the end of the month.

Sri Lanka’s Bank of Ceylon, which last accessed the offshore loan market in 2013, is making a comeback for a new $100m borrowing.

National Bank of Abu Dhabi (NBAD) has reaffirmed its Indian ambitions with the purchase of the Royal Bank of Scotland’s portfolio of offshore loans to the country’s corporates.

InterGlobe Aviation and SH Kelkar & Co have found huge success with their respective Indian IPOs, with books multiple times covered as investors flooded into the transactions.