Asia Pacific

Embassy Office Parks Reit filed for India’s first property trust this week, pushing ahead with an IPO that has been in the works for years. The joint venture of Blackstone and its local partner will be hoping to exorcise the ghosts of infrastructure investment trusts (InvIt) past, with the pressure on for a successful outcome. John Loh reports.

Cifi Holdings Group Co added $300m to its existing 2022 bonds on Wednesday as it got ahead of the expected supply pipeline, but the real estate company was forced to pay a juicy premium for the deal.

Asian equities showed mixed responses to the increase in the federal funds rate announced by the Federal Open Market Committee (FOMC) on Wednesday night, while bonds in the region held up reasonably well. But there are worries that the pace of rate hikes until the end of 2019 might be too aggressive.

Thai energy drinks manufacturer Osotspa has launched bookbuilding for its potential Bt15.1bn ($465.1m) IPO, set to be the country's largest listing so far this year.

Hanwha General Insurance’s failed attempt at a tier two dollar bond last week shows that not all South Korean credits can win over investors, as the buy-side looks at the country’s insurance borrowers with a lack of enthusiasm and a healthy dose of scepticism. With more Korean insurers set to hit the market, it’s time they reassess their approach to fundraisings.

JP Morgan has begun an agency clearing service for Australian and New Zealand dollar denominated over-the-counter (OTC) derivatives, becoming the first OTC clearing participant on the Australian Securities Exchange (ASX) to do so.

The People’s Bank of China has finally made clear what it will take for foreign institutions to issue RMB bonds in China. There are subtle differences across many areas, but the regulators did relax rating requirements and eligible accounting standards.

Qinghai Provincial Investment Group Co is expected to be able to redeem its $300m bond that matured on Wednesday, ending months of speculation about its ability to meet its debt obligation.

Thailand Future Fund is due to announce a timeline for its long-delayed IPO next week, with bookbuilding set to kick off in mid-October.

Luxury auto dealership China Zhengtong Auto Services is seeking an up to $150m three year loan, offering banks margin and fees that are identical to a borrowing sealed in January.

Midea Real Estate Holdings has launched its Hong Kong IPO, which could raise up to HK$3.87bn ($495.4m).

DBS has teamed up with Singapore-based Impact Investment Exchange to set up a $100m Women’s Livelihood Bond Programme.