South Asia

Sri Lanka is facing serious fiscal pressure, a result of the dire economic impact of the coronavirus. That led to a downgrade from Moody’s this week, which lowered its rating by two notches. All three major rating agencies have now downgraded the country this year.

Export-Import Bank of India has closed the syndication of a $500m loan after securing eight banks.

The government of Pakistan is seeking banks to offer advice on the sale of planned dollar bonds and sukuk in the international capital market.

Telecom operator Robi Axiata has won approval from Bangladesh’s securities regulator to list for Taka5.2bn ($61.9m), making it the country’s largest IPO.

India’s Power Finance Corp has mandated two banks for a $200m loan, and bankers expect the firm's government ownership will draw a strong response in syndication.

India’s Glenmark Pharmaceuticals has returned to the loan market after an absence of more than 10 years. It is seeking a $175m deal.

Government-owned Bank of India has won approval from its shareholders to raise up to Rp80bn ($1.1bn) in fresh capital.

US private equity giant Blackstone has sold a chunk of shares in Essel Propack, a tube-packaging and manufacturing company, for Rp18.6bn ($253.7m).

Warburg Pincus-backed Computer Age Management Services, an Indian finance-focused technology firm, is set to launch its IPO of up to Rp22.4bn ($305.2m).

Indiabulls Housing Finance has raised Rp12bn ($163.8m) from an issue of new stock and the sale of a stake in UK firm OakNorth Holding.

Happiest Minds Technologies kicked off a three-day bookbuilding for its Indian IPO on Monday.

Indian mobile network provider Vodafone Idea is planning to raise as much as Rp150bn ($2.05bn) from an equity placement that is part of a multi-billion-dollar fundraising.