South Asia

Nomura hires for Greater China ECM, rejigs SG coverage – ANZ levfin banker relocates – Loh joins Scotiabank Apac syndications – RBI loosens hedging rules

Indian state-owned Power Finance Corp had to abandon a new change of control language to keep investors focused on its $500m 10 year bond issuance, which was printed amid talks of a possible merger.

India’s Power Finance Corp has invited banks to bid for a new five year financing, in its second visit to the syndicated loan market in 2018.

Mumbai-headquartered Metropolis Healthcare has been given the go ahead to list by the Securities and Exchange Board of India, paving the way for an equity sale by two shareholders.

Bangladesh’s largest bank, Islami Bank Bangladesh, will sign a debut international syndicated loan of $100m before year end.

India’s Housing Development Finance Corp (HDFC) sold a privately placed offshore rupee bond this week, giving an inkling of hope to what has been a lacklustre market.

Interloop, a Pakistan-based sock supplier for sports brands Nike and Adidas, intends to list on the domestic stock exchange, in what would be the country’s largest listing from a private sector company.

State Bank of India has called on shareholders to wave through its plan for a Rp200bn ($2.75bn) equity fundraising, which would be the country's largest share sale.

India’s Penna Cement Industries is preparing a listing that could raise up to Rp15.5bn ($212.6m) and has filed a draft prospectus with the country’s securities regulator.

The government of Kerala is poised to sell its debut offshore rupee bond after a non-deal roadshow this month, in what could be the first Masala issuance since April.

The Indian government sold a 3.18% stake in Coal India on Thursday, adding Rp52.7bn ($722.9m) to its coffers.

Jaguar Land Rover, owned by India’s Tata Motors, has returned for a $1bn loan, just months after closing a smaller £640m ($839m) dual-tranche facility.