Asia Pacific

India’s cabinet has approved the IPO of Indian Renewable Energy Development Agency (Ireda), the chief financier of the country’s renewable energy ambitions.

Chinese property developer Kaisa Group Holdings is looking to launch an exchange offer, swapping a series of variable rate senior bonds for new fixed rate notes.

Singapore’s HRnetGroup is set to price its IPO at the top of guidance after investors from all walks of life turned up for a piece of the S$174m ($126.0m) float, according to sources close to the deal.

Deutsche Bank has made changes to its Asia loan syndications team, promoting Birendra Baid to head up the division, succeeding Amit Khattar who is taking up a broader role.

Two Hong Kong-listed firms sold new equity on Tuesday via block trades at double-digit discounts, as Jiayuan International Group and Grand Baoxin Auto Group raised a combined HK$2.2bn ($277.1m).

HSBC and Morgan Stanley have adjusted their forecasts for the onshore renminbi (CNY), projecting a stronger-than-expected currency by the end of 2017. Analysts say the RMB’s strength could prompt China to allow for greater two-way volatility and further open its domestic market.

China Everbright Bank’s Hong Kong branch grabbed $500m on Tuesday from its three year floating rate note offering, riding on the success of its past transactions, said bankers.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned ONGC, is seeking a dual currency $844m-equivalent loan from the offshore syndication market.

China Construction Bank International seized a tightly priced $600m five year deal on Tuesday, offering investors something different to an increasingly common floating rate note.

United Overseas Bank is understood to have hired a former Standard Chartered banker as a senior director, corporate finance, within investment banking.

State-owned Power Construction Corporation of China and Sinochem-backed Far East Horizon are in the market with dollar-denominated perpetuals, while Tunghsu Group is making its international debut with a three year.

Malaysia’s CIMB Group has sold half of its international brokerage operations to China Galaxy Securities Co, formalising a plan set out last year.