South Asia

India’s PNB Housing Finance has filed a draft prospectus for a listing that could raise as much as Rp25bn ($369.7m), putting it on track to be one of the country’s largest IPOs this year.

Indian state-owned oil companies Bharat Petroleum Corp, Indian Oil Corp and Oil India have sent out separate requests for proposals for borrowings totalling $1.9bn to finance their acquisition of a stake in an East Siberian oilfield.

Metropolis Healthcare is planning to ride on the strong interest among investors in India’s healthcare sector and sell shares in an IPO.

Pakistan’s equity capital market suffers from a lack of high quality listed companies and initiatives are needed to boost the market as a whole, according to a new plan from the country’s regulator.

Indian company Piramal Healthcare has sealed a $145m refinancing bridge loan with four lenders.

Nomura has added a pair of bankers to its Asia ex-Japan equity capital markets team, according to sources familiar with the matter.

The Sri Lankan sovereign has finally hit the loan market for a $300m borrowing — a good three months after news emerged of a potential mandate and about a year after it issued a request for proposals. But the country is on much stronger footing now despite a ratings downgrade earlier this year, writes Shruti Chaturvedi.

It was high yield that sprung back to life in Asia this week, while investment grade counterparts remained on the sidelines amid a cautious environment. Market participants remain hopeful that the region’s high yield market will benefit from a possible Brexit-driven pivot from European investors, write Narae Kim and Max Bower.

The loans team at Standard Chartered in Hong Kong has undergone a number of changes, with new bankers coming into the fold to replace those who have left recently.

L&T Infotech, a unit of Indian conglomerate Larsen & Toubro, is set to raise Rp12.4bn ($183.4m) from its domestic IPO, having announced the price range and bookbuilding dates.

State Bank of India and JSW Steel have set sights on the offshore bond market, announcing their respective fundraising plans on the stock exchange.

PV Krishna, head of ECM for Goldman Sachs’ operation in India, is leaving the firm, according to a source familiar with the matter.