Asia Pacific

Mongolia has mandated banks for a new dollar deal to be issued in part to fund an exchange offer for the Development Bank of Mongolia’s bonds maturing next month. The announcement comes just after the International Monetary Fund agreed to a $5.5bn bailout for the debt ridden country.

Bharat Road Network filed a draft prospectus for its listing last Friday, offering 29.3m primary shares via leads Inga Capital, Investec and Srei Capital Markets.

India’s Rural Electrification Corp has opened a $230m five year loan to retail participants, about a month after the lead banks pre-funded the money.

United Overseas Bank is marketing the year’s first Singapore dollar-denominated bond from a financial institution, while Germany's Commerzbank has also set its sights on the same liquidity pool.

India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.

Two and a half years after the launch of the first pilot free trade zone in Shanghai, the authorities appear ready to inaugurate a third batch of FTZs. But recent moves to restrict capital outflows have ended up hurting foreign enterprises, dealing a blow to China’s efforts to open its capital account.

Chinese conglomerate Citic is pursuing a dual-tranche dollar transaction with five and 10 year tenors, mandating banks on Monday.

Singapore-based construction company HPC Holdings is looking to list its shares in Hong Kong and is seeking approval from the city’s exchange.

India has released a series of targets to make sure its state-owned firms are listed within a specific time frame, giving them up to 5.5 months to market and launch their IPOs.

Law firm DLA Piper has hired a new partner to its finance and projects group in Hong Kong, according to a Monday press release.

Chinese borrower United Photovoltaics Group is back in the dollar debt market for more, opening a tap of its debut three year notes on Monday morning.

PBoC opened the week with a near-300bp weakening of the dollar fix, while Rusal received the green light for its upcoming Panda bond deal, and the Shanghai-London Stock Connect is now one step closer to becoming reality.