South Asia
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Bajaj Finance, an Indian non-banking financial company, has launched its debut offshore borrowing of $575m-equivalent into general syndication. -
Burger King India has filed for an IPO that will raise up to Rp4bn ($57m) in primary proceeds as the fast-food chain looks to expand in the country.
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JP Morgan has bolstered coverage of India’s mid-cap companies, making three new hires to its commercial banking team in the country.
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State Street Corp has appointed Sri Pools as head of India, according to a press release on Monday.
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The $166.3m loan to support Blackstone Group’s Essel Propack acquisition has been oversubscribed, with 10 participants joining during general syndication.
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Air India has sent out a request for proposals for a loan to refinance an $819m existing bridge facility taken to buy Boeing aircraft.
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India’s non-banking financial companies have been under fire for the past year, after the collapse of Infrastructure Leasing & Financial Services (IL&FS) in 2018 spooked investors and dragged down the sector. But Muthoot Finance, a gold financier, proved this week that some capital-starved NBFCs can still find an audience in the international bond market. Morgan Davis reports.
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Muthoot Finance raised $450m from its maiden dollar bond on Monday, after showing investors the difference between its operations and that of other beleaguered Indian non-banking financial companies (NBFCs).
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Chiranjeev Kumar is now the head of debt origination for South Asia at Citi, after having previously covered the Southeast Asia business.
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Central bankers from Sri Lanka and Indonesia tell GlobalMarkets why Asian countries are annoyed with the IMF for not ensuring that their countries’ voting shares in the fund match the size and characteristics of their economies and so leave them with less of a voice
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India has become the latest emerging market to use its sovereign wealth fund to move into the infrastructure arena. Managing director Sujoy Bose tells GlobalMarkets that investors could make a return as high as 18% but investors still fret over bureaucracy
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The current system of globalisation with the United States at its centre looks set to crumble and be replaced by a new global system anchored around China, leading economists have told GlobalMarkets
