Financing
Indian NBFC Indostar gets funding from CDIB Capital
Hong Kong-headquartered CDIB Capital has closed an undisclosed investment in India-focused non-banking finance company (NBFC) Indostar Capital Finance in a bid to capitalize on the country’s growing credit market.
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.
Regulators to address Hana's KEB offer after Lone Star court ruling
South Korean regulators will review whether Hana Financial may purchase Korea Exchange Bank (KEB) from Lone Star following a court ruling addressing allegations that the embattled US buyout manipulated KEB’s stock price in 2003 to gain a higher valuation...
Ping An granted PE investment license
Ping An Insurance, China’s second-largest insurer, has been granted a regulatory license to raise private equity and real estate funds.
Regulators to rule on Lone Star's KEB case next month
South Korean regulators are slated to make a final ruling on October 6 regarding allegations that US buyout firm Lone Star manipulated Korea Exchange Bank’s (KEB) stock price in 2003 to gain a higher valuation for its exit.
KKR-backed Seven West Media looks into debt refinancing
Australia’s Seven West Media, which is part-owned by KKR, is assessing bank proposals to refinance up to A$2 billion ($2.1 billion) of debt. Sources familiar with the situation told Reuters that several banks have bid to underwrite 3-5 year funding packages....
CVC considers refinancing options for Nine Entertainment
CVC Asia Pacific is looking into refinancing options for up to A$3.5 billion ($3.7 billion) in debt on the books of portfolio company Nine Entertainment. Sources told Reuters that – contrary to earlier reports – the private equity firm is not yet in talks...
IFC invests $29.6m in MFI Bandhan Financial
The International Finance Corp. (IFC), the investment arm of the World Bank, has acquired nearly 11% of microfinance firm Bandhan Financial Services for a reported INR1.35 billion ($29.6 million). The deal first came to light last month.
BofA sold CCB stake to Chinese consortium
China’s State Administration of Foreign Exchange, the National Social Security Fund and CITIC Securities have emerged as the buyers of the 5% stake in China Construction Bank (CCB) sold by Bank of America (BofA) for $8.3 billion, the Financial Times reported,...
KKR among suitors for India's Future Group
KKR has emerged as one of the key suitors for Future Capital Holdings, the financial services division of India’s Future Group. It joins JP Morgan and Piramal, the healthcare, manufacturing and real estate conglomerate, according to Reuters.
Prudential, Fosun approved for China insurance JV
The China Insurance Regulatory Commission (CIRC) has approved US-based Prudential Financial's plans to set up a joint venture life insurance unit with conglomerate Fosun Group. This extends a partnership between the two companies that already includes...
PE-backed Taikang Life looks to IPO within three years
China’s fifth-largest insurance firm Taikang Life, which is 12%-owned by Goldman Sachs, is slated to list in Shanghai and Hong Kong within the next three years, Dongsheng Chen, the company’s chairman, told local media
PE-backed Muthoot Finance seeks to raise $218m
Muthoot Finance, India’s largest gold-loan non-banking finance company (NBFC) plans to raise INR10 billion ($218 million) through the issue of listed retail non-convertible debentures (NCDs). It would follow four rival NBFCs, including Mannapuram Finance...
Korean government suspends Woori sale process
The Korean government has suspended the auction of its 57% stake in Woori Finance Holdings after MBK Partners materialized as the sole bidder for the asset. This is the second time the government has tried and failed to exit its holding in Woori, which...
Woori sale up in the air as MBK emerges as sole bidder
The sale of the Korean government’s stake in Woori Finance Holdings has been called into question after a consortium led by MBK Partners emerged as the sole bidder for the asset.
China Life recieves PE investment license - report
Chinese insurance major China Life has been granted a license to raise a private equity fund, China’s 21st Century Business Herald first reported, and has targeted its first investment.
TStone may not bid for Woori - report
Uncertainty surrounds South Korean private equity firm TStone's participation in the auction for Woori Finance Holdings after executives alluded that the firm may drop out of the first round of bidding, which is slated to start today.
Fortune Brands raises tender offer to $1.05b
Consumer goods holding company Fortune Brands has raised a $1 billion debt tender offer to $1.05 billion due to oversubscription, The Wall Street Journal reported. The proceeds from the company's sale of golf equipment and apparel business Acushnet to...
Goldman Sachs nears $555m investment into MBK for Woori bid
South Korean private equity fund MBK Partners is reportedly close to securing a KRW600 billion ($555 million) investment from Goldman Sachs that will support its bid for Woori Finance Holdings.
President of PE-backed Taishin Financial feared dead after fall
Taiwanese rescue teams are continuing their search for the president of Newbridge Capital-backed Taishin Financial Holdings, Keh Hsiao Lin, after the executive fell from a 100-meter-high cliff during a nighttime climb of Shusuei Mountain Wednesday.
CITIC's mezzanine initiative still veiled in secrecy
The news was brief yet had potentially far-reaching consequences: the private equity arm of Chinese financial behemoth CITIC Group would launch a RMB5 billion ($777 million) renminbi-denominated mezzanine fund.
Private equtiy reengages with Indian MFIs
The World Bank’s International Finance Corp. (IFC) is reportedly finalizing an INR1.3 billion ($29.2 million) investment in Indian microfinance institution (MFI) Bandhan. This comes as other PE players also reconsider investments into MFIs following a...
IL&FS appoints banks for RMB bond issuance
Indian infrastructure investor IL&FS has selected Deutsche Bank, RBS and UBS to handle its renminbi-denominated “dim sum” bond issue in Hong Kong. The private equity firm aims to raise the equivalent of $200 million, Reuters reported.
IFC among new stakeholders in Cholamandalam Investment and Finance
Cholamandalam Investment and Finance Company has diluted a 15% in itself to investors including IFC, Amansa Investment, Acquarius Investment, Reliance Capital and India Capital Fund as part of its effort to raise INR250 crore ($56.56 million) for business...