Asia Pacific

Boustead Holdings completed its MR1.05bn ($256.55m) rights offering on Wednesday with a slight oversubscription.

Markets may have shrugged off MSCI’s decision not to include A-shares in its latest review but it proved to be more of a shock to some of the major investment banks which had forecast inclusion as the most likely outcome.

QBE Insurance was nearly eight times overs subscribed for a new tier two bond on Wednesday, as the Australian firm shrugged off recent volatility to build towards its regulatory capital requirements.

Covered bond volumes were higher this week than last even as mounting fears of a UK decision to leave the European Union lead to greater volatility and increased execution risk.

Reliance Big Entertainment US has approached the Asian syndicated loan market for a $100m deal, bringing a rarely seen film production name to lenders. While there are some concerns over its cash flows, the borrower is mitigating those fears with two credit enhancements. Shruti Chaturvedi reports.

A single bank has launched into syndication a $70m three year facility for Bank for Investment and Development of Cambodia (BIDC).

Asia’s bond markets have remained resilient despite a Federal Open Market Committee meeting this week and rising concerns about the UK referendum on European Union membership. With deal flow building up for next week, bankers said Asian issuers stand to benefit from volatility in Europe, writes Narae Kim.

China may have grabbed the spotlight after its MSCI review this week but Pakistan was the real winner with its upgrade to emerging market status. Bankers expect the move will light a fire under equity capital markets and give a big boost to IPOs, especially in sectors like infrastructure. John Loh reports.

Hotel Lotte’s IPO could yet go live by the end of 2016 despite being postponed on Monday after prosecutors raided the offices of Lotte Group, according to a statement from the parent.

Taiwanese green technology firm Giga Solar Materials Corp wrapped up its debut dollar convertible bond this week, raising $110m on Tuesday. For its first visit to the equity linked market in nearly two years, the low profile issuer had to provide a 100% asset swap to entice investors, writes Jonathan Breen.

Biostime International Holdings priced its maiden international bond this week as it builds its presence in Asia's capital markets.

The pre-summer rush for IPOs in Hong Kong is well underway with three companies starting investor education this week, even as stocks started Monday with a wobble.