South Asia

State Bank of India has lined up five firms to run its Rp200bn ($2.75bn) equity fundraising, set to be the country’s largest share sale.

Panda bonds could take a back seat in the first quarter of 2019 due to the expected increase in issuance of local government bonds and as banks focus on their own funding needs, according to onshore DCM bankers.

Is pricing in the Asian loan syndications market finally bottoming out? All the signs for an uptick in margins this year are there, writes Pan Yue.

The Securities and Exchange Board of India has ordered all the stock exchanges under its supervision to move cash-settled equity derivatives contracts to physically settled forms.

2019 is likely to be another year where the independent mandate of central bankers comes under pressure from populist politicians in democracies. It is easy for those in the market to sympathise with the quiet technocrats over the loud-mouthed headbangers, but scrutiny is deserved.

Indian Oil Corp is in the market with a $1.3bn financing, in yet another sign the country’s famously stingy borrowers are allowing pricing to inch up.

Five countries in Asia are due to hold general elections in 2019, meaning uncertainty for capital markets is likely to be commonplace. With markets already wobbling under global pressures, surprise election results could have catastrophic effects. Bankers and investors should be prepared for a bumpy ride.

Housing Development Finance Corp is taking the Samurai loan route for its second syndicated financing of the year.

Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.

State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.

The political upheaval in Sri Lanka since October led S&P and Fitch to downgrade the sovereign’s ratings this week, following a similar move by Moody’s in November. All three agencies have pointed to heightened refinancing risks, with a weak rupee and rising bond yields restraining the country’s access to capital markets.

Indian companies should be allowed to list offshore if they meet certain criteria, a Securities and Exchange Board of India (Sebi) committee has recommended. The committee also approved several possible destinations.