Prakash Chakravarti is a senior writer with Thomson Reuters/IFR/LPC, where he has worked for nearly 12 years in several senior positions. He has written extensively on Asian loan markets, including contributing to books and management reports, and been instrumental in the events and conferences organised by IFR relating to capital markets in the region. He has also covered other asset classes such as bonds and equity, and written about trends in commercial and investment banking and capital markets in Asia.
Standard Chartered has disbanded its project finance team in Hong Kong and scaled back its loan syndications group as it continues to cut costs and restructure its business, according to sources familiar with the moves.
Faced with slower economic growth and rising bad debts at home, Chinese banks are muscling in on the US$9bn private equity buyout loans business in Asia, using generous terms to grab market share from European and US rivals.
China’s biggest social networking and online entertainment firm Tencent Holdings is poised to set a benchmark in the loan market with a US$1.25bn five-year financing.