South Asia

Indian renewable energy company ReNew Power is planning to list on the Nasdaq in the US through an $8bn merger with a special purpose acquisition company (Spac).

Private equity firm Blackstone has launched into syndication a $360m loan that will support its leveraged buyout of India’s Piramal Glass.

Indiabulls Housing Finance has brought a rare Indian convertible bond to the market, raising $150m after increasing the size of its debut offering.

India's REC has raised $500m from a tightly priced bond that appealed to investors because of its relatively short tenor of 5.5 years amid volatility in the longer end of the yield curve.

Agrochemicals company UPL Corp is set to be the first Indian company to raise a sustainability-linked loan (SLL) amid growing appetite for the product in Asia. The $500m deal will offer banks in the region a rare opportunity to participate in a syndicated deal from the asset class. Pan Yue reports.

Indian auto parts firm Sona Comstar is set to file paperwork for an up to Rp60bn ($827.9m) IPO, according to a source close to the deal.

Macrotech Developers, an Indian real estate company that was called Lodha Developers until mid-2019, has revived plans for a listing under its new name, three years after its last attempt at an IPO.

Pakistan’s Water and Power Development Authority (Wapda) is planning to sell its debut dollar bond in late March, in what would be a rare international corporate outing from the country.

RailTel Corporation of India, a state-owned information and communication technology infrastructure provider, has received strong and early retail support for its upto Rp8.19bn ($112.4m) IPO.

India’s well-established renewable energy companies have long been known for selling green bonds, but this week showed that new issuers are ready to join the fray — not just with green deals, but also with sustainability-linked transactions. Morgan Davis reports.

India Toll Roads sold its first dollar bond on Tuesday, becoming just the latest issuer from the country amid an expected surge of supply this year.

Solar and wind power company ReNew Power added further momentum to India’s green bond market this week with a new $460m deal.