The Hindu Business Line : Syndicated loans: SBI top book-runner

STATE Bank of India, has emerged as the top book-runner for syndicated foreign currency loans for Indian corporates during January-July, 2003, according to figures published by the IFR (Asia), a sister publication of International Financial Review.

Barclays Capital occupies the econd position, while ABN Amro takes the third place in the list of top book-runners for Indian syndicated loans. This is the first time that SBI has topped the book-runners list, after occupying the second position for the past couple of years.

According to the IFR league tables, for the period from January-July 2003, SBI has underwritten five deals at the primary levels, which amounted to $232.9 million. However, the total number of deals is to the tune of 13 or 15, according to SBI officials. "We have enjoyed a long strategic presence in the market and have a deep understanding of Indian corporates," said an SBI official.

"We have been always participating in syndications. The change in the scenario this year is that the participation for a number of deals has been at the lead arranger level," he said.

Some of SBI's biggest syndications this year include an amount of $100 million for HDFC, $100 million for IPCL, and $50 million for Grasim.

According to market sources, the bank is also looking at a number of syndications in future, such as raising $100 million for National Housing Bank, $35 million for ACC, $125 million for Hindustan Zinc and $75 million for Tata Sons.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Forex reserves up $297 m, near $85 b

Syndicated loans: SBI top book-runner

Key RBI notifications thru Parliament route?

M. Venugopalan takes over as Bank of India CMD