Krishna Merchant is Asia credit correspondent at IFR. She covers credit, mainly corporate bonds in India, Indonesia and the Philippines, and also the offshore rupee market, or Masala, bonds for India. She has been with IFR since May 2016.
Infrastructure Leasing & Financial Services is looking at new financing options in the domestic and overseas markets as Indian banks put the brakes on lending.
New Indian regulatory guidelines on the utilisation of corporate bond limits for foreign investors will completely halt Masala bond issuances in the near term and hurt renewable energy financings, market sources said.
Mandiri Sekuritas, the brokerage unit of Indonesia’s biggest bank, is expanding its international underwriting business to target offshore financings, potentially including Global rupiah bonds, after receiving a Singapore licence earlier this year.