CB Richard Ellis Group, headquartered in Los Angeles, has acquired majority interest in its India affiliate company CB Richard Ellis South Asia (popularly called CBRE India).The acqusition involves taking over services and operations in 30 Indian cities across the rapidly growing India realty market.
CBRE India has been an affiliate of CB Richard Ellis in India since 1994, and has executed more than 22 million square feet of leasing transactions and about 30 million square feet in project management assignments. The company also manages 40 million square feet of commercial properties and corporate facilities.
CBRE India has handled lease transactions for global companies including Goldman Sachs, Cisco Systems, McAfee and JPMorgan Chase and Hewlett-Packard.
Showing posts with label JP Morgan Chase. Show all posts
Showing posts with label JP Morgan Chase. Show all posts
Thursday, August 30, 2007
Tuesday, June 19, 2007
SBI to raise $225m in bonds abroad
State Bank of India is set to raise $225 million from the overseas market this year by issuing perpetual bonds. The overseas issue opened on Monday and the bank is expected to price the bonds this week. The bank has appointed Citibank and JP Morgan Chase as merchant bankers to the issue.
The bank plans to raise a total of Rs 15,000 crore this year in the form of equity (tier-I) and debt (tier-II). The proposed issue, perpetual note, will be the first tranche of its tier-I borrowing this year. If the SBI Act is amended, the bank plans to raise close to Rs 6,000 crore by way of public issue. The balance would be raised from the debt market.
In February this year, SBI had raised $400 million by way of perpetual bonds at 6.43% and it had a call option in 2017. The proposed perpetual note, too, would have a call option at the end of 10 years. The proposed borrowing is a part of SBI’s $5 billion MTN issuance and is likely to be raised at 1.3-1.4% over Libor, which is now ruling at 6.6-6.7%.
Read more in The Economic Times article.
International rating agency Standard & Poor’s has assigned a ‘BB’ rating to the bank’s $225 hybrid issue. The rating of BB is sub-investment grade. However, the senior secured borrowing has been rated at BBB-, which is an investment grade.
The bank plans to raise a total of Rs 15,000 crore this year in the form of equity (tier-I) and debt (tier-II). The proposed issue, perpetual note, will be the first tranche of its tier-I borrowing this year. If the SBI Act is amended, the bank plans to raise close to Rs 6,000 crore by way of public issue. The balance would be raised from the debt market.
In February this year, SBI had raised $400 million by way of perpetual bonds at 6.43% and it had a call option in 2017. The proposed perpetual note, too, would have a call option at the end of 10 years. The proposed borrowing is a part of SBI’s $5 billion MTN issuance and is likely to be raised at 1.3-1.4% over Libor, which is now ruling at 6.6-6.7%.
Read more in The Economic Times article.
International rating agency Standard & Poor’s has assigned a ‘BB’ rating to the bank’s $225 hybrid issue. The rating of BB is sub-investment grade. However, the senior secured borrowing has been rated at BBB-, which is an investment grade.
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