by Amruth Sundarkumar | Oct 27, 2022 | High Yield Bonds, India
UPL Corp announced a consent solicitation for three of its dollar bonds amid its business reorganization plans. The bonds in question are its $300mn 4.5% 2028s, $500mn 4.625% 2030s and $400mn 5.25% Perp. The Indian corporate is seeking to waive certain terms and...
by Amruth Sundarkumar | Oct 25, 2022 | Corporates, India
Adani Group is seeking a $10bn debt raise over the next year by issuing offshore and green bonds. The Indian conglomerate aims to raise $6bn to refinance its existing high-cost borrowings with lower-cost ones and the remaining $4bn will be raised to fund future...
by Amruth Sundarkumar | Oct 18, 2022 | High Yield Bonds, India
Shriram Transport Finance launched a tender offer to buyback up to $250mn of its outstanding $500mn 5.1% social bonds due July 2023 as per a filing. The company is is offering $985 per $1,000 in principal until an early-bird deadline of October 28, and $955 thereafter...
by Amruth Sundarkumar | Oct 17, 2022 | Banks, India
India’s largest private lender HDFC Bank reported a 20% YoY rise in its net income to INR 106.1bn ($1.3bn), slightly beating estimates of INR 105.5bn ($1.3bn). The bank’s net interest income was up 19% YoY to INR 210.2bn ($2.6bn). Besides, the bank’s...
by Amruth Sundarkumar | Oct 13, 2022 | Corporates, High Yield Bonds, India
Vedanta Ltd.’s shareholders in a vote, approved of the company’s proposal to shift INR 125.9bn ($1.6bn) from its accumulated general reserves which are likely to be used for special dividend payments. It received the approval of more than 99.96% of the...
by Amruth Sundarkumar | Oct 10, 2022 | Corporates, India
Adani Group is in early discussions with Singapore-based GIC and Temasek Holdings to raise at least $10bn to support the Indian conglomerate’s foray into clean energy and ports, as per Mint. The news agency said that Adani is also in talks with other wealth funds and...
