State Bank of India SBI

SBI Cards and Payment Services is preparing to launch its IPO of up to Rp95bn ($1.3bn) in the first week of March after getting the go ahead from the market regulator, according to a source close to the deal.

ONGC Videsh (OVL), the international arm of Indian state-owned Oil and Natural Gas Corp, has mandated nine banks for a $1bn loan.

Bahrain Steel to lock in better conditions in refi — Saudi sparks life into local loan mart — Cranfield University soft-sounds private placement market — Golding Homes looks to add hundreds of houses with £120m facility — Great Portland brings ESG loans to UK Reits

Bahraini iron pellet producer Bahrain Steel is in discussions with lenders to refinance an existing facility, according to bankers. The deal, some say, is part of a broader trend among emerging market borrowers seeking to secure more attractive conditions.

Indian companies Birla Carbon and Tata Steel have mandated banks for loans and both borrowers have signed up large groups of lenders at the top level.

Turkish lender Yapi Kredi ventured into the green bond market for the first time on Friday with a rare dollar private placement, its first since January 2016, according to Dealogic data.

India’s National Thermal Power Corp has mandated three lenders for a $300m-equivalent Samurai loan, after sending out a request for proposals last year.

India’s Power Finance Corp has wrapped up its $300m-equivalent dual-currency loan with nine banks on board.

Investec has entered the loan market for the third time this year, taking a $450m two year term loan from a range of international lenders.

Indian Oil Corp’s Canadian subsidiary, IndOil Montney, has returned to the loan market for a C$580m ($438m) five year deal. Unlike the last time, when it was primarily focusing on US and Canadian banks, the latest deal is targeting Asian liquidity.

HDB Financial Services, an Indian non-banking financial company under HDFC Bank, has launched its maiden $300m international loan into syndication.

Oil and Natural Gas Corp (ONGC), the largest crude oil and natural gas company in India, tussled with bond investors during marketing for its latest dollar deal this week. Investors pushed back against ONGC’s demanding terms and forced a last-minute flip-flop over a change of control clause. Morgan Davis reports.