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Financial institutions may have to revise their size ambitions if they want to print euros before the summer, according to syndicate bankers, who continue to be asked for pricing updates despite the Greece deadlock.

Firms eager to set up Iran-focussed funds have had to contend with extension after extension of the talks upon which their prospective businesses depend. But as yet another deadline for an agreement on lifting Iran’s sanctions approaches, there are still firms creating fresh investment vehicles.

Brazilian sugar and ethanol producer Tonon Bioenergia will be able to PIK the coupons on most of its senior unsecured bonds until January 2017 after investors agreed to a debt exchange designed to ensure the beleaguered company avoids restructuring.

Haixia Capital raised HK$6.33bn ($816m) on Tuesday evening by selling all of its stake in Haitong Securities despite a crash in the Hong Kong and China stock markets, preferring to cut its losses and move on rather than wait for an opportune window.

South Africa firm Naspers surprised some debt bankers by positioning itself to pounce on a calm market, if such a market appears. The company is roadshowing a dollar bond, which would be the first test of EM new issue premiums in almost a month.

High volatility curbed activity in the Asia ex-Japan bond market again this week, as the Greek crisis and China's stock market crash kept issuers on the sidelines. As the deal drought continued, some market watchers said the summer lull had already started.

Bharat Petroleum Corp (BPCL) subsidiary Bharat PetroResources has sent out a request for proposals for a $125m borrowing. The proceeds of the loan are for capital expenditure in Brazil, according to a banker who received the invitation.

Four banks have launched a $240m dividend recapitalisation loan for Asia Satellite Telecommunications (AsiaSat) sponsor Carlyle. These banks entered a facility agreement with AsiaSat on June 24 and opened the deal to retail participation on June 29.

Singapore has tweaked rules governing real estate investment trusts (Reits), the mainstay of the city-state’s equity capital markets, with the changes prioritising good corporate governance and the interests of unitholders.

Alok Industries signed its $475m export performance bank guarantee-backed (EPBG) loan on June 30, with a total of eight banks committing to the transaction, following a four month syndication process.

Manulife US Real Estate Investment Trust (Reit) has snatched away hopes of Singapore seeing its first sizeable IPO this year, delaying its plans for a S$569m ($426m) listing amid turbulence in global markets.

Malaysia’s Sunway Construction Group priced its MR478.44m ($127.60m) listing at the top of expectations on July 6, with strong local interest supporting the trade even as volatility hit equities in Hong Kong and China.