Indian Bank raising $400 million in overseas loan; syndication underway
Indian Bank has embarked on a significant financial undertaking by securing a four-year loan worth $400 million, underwritten by CTBC of Taiwan and Commerzbank of Germany. The pricing for this loan ranges from 119 to 123 basis points over the SOFR rate. Currently in syndication, this initiative opens the door for additional banks to participate, […]
Global Market Today: Asian stocks drop as AI rally pauses, oil dips
Asian markets experienced a dip on Thursday as Wall Street’s recent tech surge showed signs of slowing down. Crude oil prices also fell slightly after Iran and Oman reached a new agreement regarding the Strait of Hormuz. Meanwhile, Sandisk and Western Digital faced significant declines following disappointing earnings reports. As investors reassess stock valuations, the […]
Foreign borrowings hit over $6 billion in June as 140 firms tap global market
In June, external commercial borrowings and foreign currency convertible bonds amassed an impressive $6.07 billion. Prominent borrowers included Shriram Finance and Microsoft Corp India, while Air India acquired necessary funding for aircraft imports through a leasing company. A total of 140 companies participated in these significant financial maneuvers, with data from the Reserve Bank of […]
CAS sparks trader backlash as losses mount, Sebi holds firm
Concerns are mounting among traders regarding the recent shift to a closing auction system, which has led to significant price volatility. Numerous market participants have reported unexpected losses, prompting authorities to engage with brokers to explore these issues. Despite regulators’ attempts to bolster trader involvement, the contentious pricing mechanism continues to stir debate within the […]