28 September 2005 – LAWFUEL – The Law News Network – Linklaters has advised JPMorgan, Citibank, Barclays and ABN Amro, as joint global coordinators, on the Housing Development Finance Corporation of India US$500 million zero coupon convertible bond due 2010. This is the largest ever convertible bond to be issued from India and the largest convertible bond to be issued in Asia this year.
This is also the first convertible bond from an Indian financial corporation following recent regulatory changes in India.
The Linklaters team was led by partners Dean Lockhart (Hong Kong) and Sandeep Katwala (London) with assistance from Ben Bowden, Kevin Tong and Aloysius Tan.
Dean Lockhart stated:
“This transaction sets another benchmark for the Indian equity capital markets. Recent regulatory liberalisation has established an efficient framework that enables Indian corporates to rapidly access the international equity markets, and this deal will surely pave the way for many other equity and equity-linked transactions. Our India capital markets team, which is coordinated across Hong Kong, Singapore and London, has been extremely busy over the past year and we fully expect this to continue.”