Krishna Merchant
Asia Credit Correspondent at International Financing Review (IFR)
Senior Reporter, @IFRAsia, @LSEGplc RTs are not endorsements and opinions are personal
Articles
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1 month ago |
zawya.com | Krishna Merchant
India's largest private port operator Adani Ports and Special Economic Zone is seeking bids on May 29 to raise Rs50bn (US$584m) from 15-year bonds at 7.75%, according to market sources. Crisil and Care have assigned a AAA rating to the secured notes. The issuer has asked investors to place bids on BSE's electronic bidding platform from 10:30am to 11:30pm India time.
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1 month ago |
zawya.com | Krishna Merchant
Large Indian corporates are expected to hit the domestic bond market in the coming weeks to take advantage of multi-year low yields and ample liquidity after the Reserve Bank of India said it would pay a bumper dividend to the government, according to DCM bankers. The RBI board approved a dividend transfer of Rs2.69trn (US$32bn) for the fiscal year ended in March, higher than Rs2.1trn for the year ended in March 2024, but lower than economists' estimates of over Rs3trn.
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1 month ago |
zawya.com | Krishna Merchant
India's Supreme Court exposed the legal risks of doing business in the country with a stunning decision to strike down the Rs193.5bn (US$2.3bn) acquisition of Bhushan Power and Steel out of insolvency proceedings by JSW Steel more than four years after the buyout was completed. Instead, the court on May 2 ordered Bhushan to be liquidated, arguing that JSW Steel's resolution plan was not in compliance with the law.
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2 months ago |
zawya.com | Krishna Merchant
ICICI Home Finance is planning to raise Rs5bn (US$59m) from five-year bonds at 7.36%, according to market sources. The non-banking financial company is targeting Rs3.75bn plus a greenshoe of Rs1.25bn. It is seeking bids on BSE's electronic bidding platform on Wednesday from 10:30am to 11:30am India time. ICICI Bank and HDFC Bank are heard to be the anchor investors in the deal. AK Capital Services is heard to be the arranger.
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2 months ago |
zawya.com | Krishna Merchant
BONDSCrisil and Care have assigned a AAA (stable) rating to the notesApril 29, 2025Tata Capital is planning to raise up to Rs25bn (US$294m) from a tap of its 8% September 10 2027 bonds, according to market sources. The non-banking financial company is eyeing Rs5bn plus a greenshoe of Rs20bn. Crisil and Care have assigned a AAA (stable) rating to the notes. ICICI Securities Dealership, Nuvama Wealth Management and Trust Investment Advisors are heard to be the arrangers.
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Large Indian corporates are lining up bond offerings as the rally continues in the rupee market after the Reserve Bank of India said it would pay a bumper dividend to the government, boosting liquidity in the financial system. https://t.co/aaVDXEGMYO
SP Group faces ticking clock https://t.co/H37KADTccf #RBI #Extension #Timeline #Coupon #Stepup #HY #Private #Bonds #Risk #Reward
Indian conglomerate Shapoorji Pallonji Group has signed a private credit offering of close to Rs298bn (US$3.5bn) – the largest such deal in any emerging market, according to market sources. https://t.co/6WEOkdP7AR #SPGroup #India #Record #PrivateCredit