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.
Tata Steel has hit the market with its long-awaited US$5.64bn-equivalent loan component of a US$7bn refinancing, in the largest and potentially also Asia’s most widely syndicated borrowing of the year.
Chinese developer Agile Property Holdings, battling an industry slowdown and media speculation about ties to China’s former security chief, said it was in talks with banks about extending what remains of a US$475m loan due in December.
The US$1bn five-year loan for Pelindo II has been launched into general syndication, with the leads pre-funding slightly over half the facility. The remaining amount is awaiting regulatory clarity over the borrower’s new contract with Hong Kong-based Hutchison Port Holdings.