South Asia

Indonesia’s Summarecon Agung has pulled a planned $200m-$250m IPO of Summarecon Investment Property (SIP) at the eleventh hour to pursue a real estate investment trust (Reit) instead.

Beijing-based boutique investment bank, China Renaissance, has launched a new division to advise companies looking to raise funds in China’s onshore capital markets, expanding the firm’s services to include both its home and overseas markets.

Sri Lanka had to pay up to get its second dollar bond of the year across the line this week, but the money left on the table was more than worth it as the sovereign ended up raising $1.5bn, a record for the country.

The syndication timeline for a $145m loan backing the Blackstone Group’s acquisition of some Indian assets has been pushed back.

Three Indian state-owned companies have sent out separate requests for proposals for borrowings totalling $775m to refinance existing debt.

S H Kelkar & Co looks set to continue the strong momentum in the Indian IPO market, with investors clamouring for shares in the flavour and fragrance producer’s Rp5bn ($77m) float.

The Democratic Socialist Republic of Sri Lanka has tapped the dollar bond market for the second time this year with a $1.5bn transaction. Even though the sovereign had to pay up more than in its May outing, it ended up executing its largest ever bond.

The syndication timeline for a $145m loan backing the Blackstone Group’s acquisition of some Indian assets has been pushed back.

InterGlobe Aviation has launched its IPO of as much as Rp32.5bn ($500m) after finding robust demand from anchor orders, with their response expected to boost interest from other investors during bookbuilding.

Citi has hired a former Standard Chartered banker as its new chief economist for India.

The Democratic Socialist Republic of Sri Lanka is out in the dollar bond market for the second time this year, marketing a new deal on Tuesday. The country has opted for the same format, tenor as the previous deal via the same banks.

India's Religare Global Asset Management has refinanced existing loans with a fundraising of $150m.