State Bank of India SBI
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The Reserve Bank of India is giving lenders a helping hand when it comes to paying coupons on their additional tier one debt, by allowing them to dip into their statutory reserves. Although the flexibility on coupon payments is beneficial, weaker banks will still struggle to come offshore for capital. Addison Gong reports. -
Indian power company NTPC made its debut in the euro market on Wednesday with a €500m deal, seeking out the currency to take advantage of favourable interest rates.
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A vice-president in SBI Capital Markets’ ECM team in Mumbai has left the bank, according to sources close to the departure.
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State Bank of India, through its London branch, is selling a new senior dollar bond, getting its funding done before Donald Trump officially taking office on Friday.
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India’s second largest stock exchange BSE is set to launch bookbuilding for its potential $200m listing in the last week of January, according to a red herring prospectus filed by the bourse.
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A group of seven lenders opened a $600m loan for State Bank of India to retail participation this week, with three tickets up for grabs.
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Invitations are out for a $1.8bn Asian loan that will refinance a US term loan B for Novelis. The launch comes about a month after the firm mandated 10 lenders to arrange the borrowing.
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Gitanjali Gems is seeking to list its wholly-owned subsidiary Nakshatra World in an IPO that will raise up to Rp6.5bn ($95.9m).
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US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.
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Laurus Labs, the Indian pharmaceutical firm, is on track to raise Rp13.3bn ($197.0m) after it wrapped up bookbuilding on Thursday and was more than 4x covered.
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Laurus Labs is raising as much as Rp13.6bn ($198m) from an IPO in India which will open books early next month, after setting the terms of the transaction.
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State Bank of India has zeroed in on six lenders for a $600m financing. Although the mandate has been firmed up, general syndication will likely launch next year, said a banker close to the deal.
