Asia Pacific

Indian property lender Aavas Financiers wrapped up a three-day offer period for its Rp17.34bn ($239.2m) IPO on Thursday with just 97% of the deal covered.

Philippine food and beverage producer and distributor Universal Robina Corp is gauging appetite among banks for a NZ$420m ($278m) loan to refinance an old borrowing used to back the acquisition of New Zealand’s Griffin’s Foods.

Progress was announced this week on two drives to assess the risk of climate change to businesses. The Task Force on Climate-related Financial Disclosures (TCFD) now has 513 supporters; and Moody’s has updated its environmental risk heat map, showing that 11 sectors with $2.2tr of debt have elevated risk.

Among the host of sustainable finance-related announcements this week to coincide with the UN General Assembly session in New York, one of the most potentially significant is from the Impact Management Project.

The lengthy complaint about HSBC management drafted, purportedly, by investment bankers at the firm must be taken seriously and investigated, if its new chief executive John Flint wants to win the confidence of the rest of the staff and shareholders, argues Jon Hay in a GlobalCapital View.

There is not enough flash in the markets anymore. After a whole generation of Silicon Valley geniuses made billions while dressed like stoned teenagers, style and panache seem to have taken a back seat. Thank heavens for the old guard.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.

Cryptocurrency mining company Bitmain Technologies Holding Co has joined a growing number of companies from the sector aiming for a Hong Kong IPO.

Indian electricity utility firm Tata Power has mandated five banks to lead a $245m borrowing, ending a two year hiatus from the offshore loan market.

Qinghai Provincial Investment Group Co successfully redeemed its $300m bond this week, giving a boost to its entire secondary curve and ending months of speculation about a possible default. But its debt-related troubles are not over just yet, writes Addison Gong.

Thailand Future Fund is due to announce a timeline for its long-delayed listing next week, as it gets ready to kick off bookbuilding in mid-October.

The People’s Bank of China has made long-awaited changes to its Panda bond guidelines, offering clarity to issuers that had previously been forced to deal with ambiguity and confusion. But bankers say the changes do not go far enough. Rebecca Feng reports.