Asia Pacific

The India government has given the nod for a 15% stake sale in state-owned National Buildings Construction Corp to raise a potential Rp17bn ($253.9m).

Deutsche Bank has hired Simon Galvin to be its new head of ECM syndicate Asia, according to a source familiar with the matter.

The green bond market is set for some new action with Link Real Estate Investment Trust kicking off a dollar transaction on Thursday.

Shandong International Trust Corp, which is planning a $300m Hong Kong listing, is set to ask for approval for the deal in September, according to a source familiar with matter.

India’s Rural Electrification Corp (REC) has sent banks a request for proposals for a new $150m loan.

The renminbi is joining the IMF special drawing rights (SDR) later this year, but that achievement does not mean mission accomplished for China’s authorities. For Beijing to achieve its stated goals of making the RMB a reserve currency and the SDR a real world currency more steps will be needed, according to leading monetary policy experts.

Singapore’s Olam International is seeking investors for a subordinated dollar perpetual non call five trade, opening books on Wednesday morning with initial guidance in the 5.5% area.

Indonesia’s Adira Dinamika Multi Finance has wrapped up its latest fresh money borrowing at an increased amount of $225m. The halo of indirect ownership by Temasek helped the company rake in commitments.

EC World Real Estate Investment Trust has opened books on its S$350.7m ($260.1m) listing in Singapore, as investors continue to flock to the relative safety of Reits and amid a hunt for yield.

The BRICS New Development Bank (NDB) is set to venture into the bond market for the first time next week with a Rmb3bn ($448m) offering to be sold in China’s interbank bond market.

ONGC Videsh is ready to return to the dollar debt market after a hiatus of two years, mandating banks for a potential offering on Wednesday.

Pricing details have emerged on a five year fundraising by Indonesian state-owned oil company Pertamina.