South Asia

Export-Import Bank of India got away with paying no new issue premium on its $500m return to dollar bonds, despite rising tensions between India and Pakistan.

India’s ReNew Power returned to the dollar market for a $375m bond on Tuesday, continuing its trend of using complicated deal structures to overcome strict regulations.

India’s InterGlobe Technologies (IGT) is tapping the international loan market for a debut $100m five year borrowing.

The Securities and Exchange Board of India has made a series of changes to the regulations for trusts to help give the nascent market a boost.

Indian generic drugs producer Jubilant Pharma raised $200m from its return to the bond market after investors rushed to snap up a rare Indian high yield credit.

Indian telecommunications giant Bharti Airtel is on track to launch a Rp250bn ($3.52bn) rights issue after getting the go ahead from its board of directors.

India’s largest telecommunications service provider Vodafone Idea has hired three banks to handle a rights issue that could raise up to Rp250bn ($3.5bn), according to a source close to the deal.

BNP Paribas has made Mrinal Parekh its new head of equity capital markets for southeast Asia and India, according to a source familiar with the matter.

Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.

The controlling shareholders of India’s Emami Group sold a 10% stake in the company to pay off debt this week.

National Thermal Power Corp (NTPC) has become the latest Indian corporation to tap the Samurai loan market, taking advantage of the cheap pricing and abundant liquidity on offer from Japanese banks.

India’s GMR Infrastructure has put together a sub-committee from its board of directors to oversee a possible spin-off of its airports unit.