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.
The strong response to Xiaomi’s US$1bn three-year dual-tranche loan is already being compared to Alibaba Group’s loan-market debut two years ago, except that the PRC smartphone maker has achieved tighter pricing.
AAA Oils & Fats has signed its self-arranged dual-tranche syndicated loan at an increased amount of US$725m with 18 banks.
Port operator International Container Terminal Services has set the ball rolling for Asian borrowers with an innovative loan programme aimed at streamlining loan origination and harmonising covenants and terms across its capital structure.