South Asia

The Reserve Bank of India unveiled the final framework for rupee-denominated offshore bonds, also known as Masala bonds, on September 29 following consultation with market participants.

Asian green bonds are finally taking off, with an increase in dealflow and the emergence of new markets set to transform the potential of the asset class. But the investor base remains largely non-specialised, with the green credentials of a deal often of little importance. Christina Khouri reports.

Larsen & Toubro Infotech, the information technology services unit of Indian conglomerate Larsen & Toubro, plans to raise $300m from an IPO of only secondary shares.

Pakistan’s latest 10 year transaction was trading well in the secondary market on Friday, buoyed by a wider recovery in credit and equities.

Indian conglomerate Reliance Industries has opened its $1.47bn dual-currency loan into general syndication, with four participation levels available to lenders.

The Reserve Bank of India (RBI) has decided to allow lenders to offer partial credit guarantees to project bonds, as it seeks to relieve funding pressure on the infrastructure sector.

It’s been talked about for a long time, but India may finally be getting its first infrastructure investment trust (InvITs) listing, with IRB Infrastructure Developers securing board approval to establish one.

Pakistan pushed on with a benchmark dollar bond on Thursday, with positive investor feedback giving leads the confidence to open books despite a tricky backdrop.

Bharat PetroResources International (BPRL) and Rural Electrification Corp have sent out requests for proposals, seeking a total of $950m worth of loans between them.

The Reserve Bank of India has proposed a new framework that eases rules for borrowers raising external debt, five months after the government released a report that recommended overhauling and liberalising the existing system.

Asiamoney is pleased to present its choices for Asia’s Best Managed Companies 2015. The winners were the firms that impressed us the most through a combination of factors including innovation, financial performance and strategic execution, and after also surveying the views of regional analysts and investors. Our congratulations to all those chosen.

ReNew Power Ventures has become the second Indian corporate to issue a green bond, coming close on the heels of the maiden deal from the country. With a credit enhanced structure, the company was able to enjoy a substantial pricing benefit.