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Krishna Merchant

Southern Asia

Asia Credit Correspondent at International Financing Review (IFR)

Senior Reporter, @IFRAsia, @LSEGplc RTs are not endorsements and opinions are personal

Articles

  • 1 week 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.

  • 1 week 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.

  • 4 weeks 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.

  • 1 month 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.

  • 1 month 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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Krishna Merchant
Krishna Merchant @KrishnaMerchant
7 May 25

RT @SpokespersonMoD: India has launched #OperationSindoor, a precise and restrained response to the barbaric #PahalgamTerrorAttack that cla…

Krishna Merchant
Krishna Merchant @KrishnaMerchant
7 May 25

India strikes Pakistan over Kashmir tourist killings https://t.co/N7iDHpJSoN

Krishna Merchant
Krishna Merchant @KrishnaMerchant
4 Mar 25

Adani Green Energy refinances US$1.06bn facility with long-term debt from PFC https://t.co/FW38hGchCP