South Asia

SriLankan Airlines made a triumphant return to the dollar market on Thursday, pricing a $175m bond on the back of a $1bn order book.

Indian Railway Finance Corp has returned to the Samurai loan market for a $300m-equivalent deal.

Tata Capital Housing Finance has joined a growing number of India’s non-banking financial companies (NBFCs) tapping the offshore loan market to take advantage of cheaper funding.

India’s IndusInd Bank is paying up for its latest loan, after an aggressive price cut for its previous fundraising in 2018.

Flushed with years of popularity in Germany and its neighbouring countries, Schuldschein arrangers have begun to look across the globe for new borrowers to tempt to the market. This year has brought the first transaction from India, and many say Reliance Industries’ success may spur more non-European entities to target the Schuldschein investors. Silas Brown reports.

Tata Capital Housing Finance has launched a $75m debut borrowing into the market, as another subsidiary of the Tata Group also seeks a separate maiden facility.

Indian mortgage lender Housing Development Finance Corp has completed a block sale of 31m shares, or a 4.2% stake, in Gruh Finance to rake in Rp8.9bn ($129.34m).

BNP promotes Greater China head to lead Apac CIB — New Shanghai tech board launched — China restricts SOE, LGFV bonds — India opens green bond exchange

India’s Power Finance Corp sold a $1bn dual-tranche deal on Tuesday, its first offshore bond outing since its acquisition of REC at the end of March.

State-controlled Central Bank of India (CBI) is looking to issue a chunk of new equity, and will put its plans to a shareholder vote later in June.

Indian conglomerate Larsen and Toubro is selling-down a batch of shares in subsidiary L&T Technology Services and is looking to raise at least Rp6.65bn ($96.2m).

Adani Green Energy made its dollar market debut on Thursday, nabbing $500m with a green trade.