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.
Syndicated lending in Asia-Pacific dwindled in the third quarter as the effects of China’s continued economic slowdown and currency devaluation rippled through global markets in September.
Five banks have won the mandate for a US$145m five-year amortising leveraged buyout loan to support private-equity giant Blackstone Group’s £250m acquisition of the Indian operations of British outsourcing firm Serco Group.
Hong Kong-listed China Greenland Rundong Auto is making its market debut with a US$100m three-year term loan that will test appetite for a sector that has been hit hard by the country’s economic slowdown.