South Asia

Blackstone-backed Embassy Office Parks Real Estate Investment Trust (Reit) has sealed the book for its Rp47.6bn ($694.3m) IPO well oversubscribed.

India’s largest telecommunications service provider Vodafone Idea has set the price for its Rp250bn ($3.6bn) rights issue, enticing shareholders with a discount of more than 60% to its latest trading price.

Embassy Office Parks Real Estate Investment Trust (Reit) has launched a three-day public bookbuilding for its IPO after placing nearly half of the public offer with anchor investors.

Citi names capital markets boss as India head — HSBC banking exec to retire — SSGA names China head — HKEX set to launch MSCI China futures

India’s equity capital market is on edge as Embassy Office Parks Real Estate Investment Trust prepares the country’s first Reit IPO. But while the hotly-anticipated listing has global institutional investors chomping at the bit, the deal may be a one-off treat as the issuer has very few peers.

Investors have challenged REC’s proposed waiver to a change of control clause, forcing the borrower to pay up more to get the consent it needed.

A unit of insurer Standard Life is looking to bag at least Rp25bn ($359.8m) by trimming its stake in HDFC Life Insurance Co.

Embassy Office Parks Real Estate Investment Trust (Reit) has global long-only investors on tenterhooks as it prepares to launch its smaller-than-expected Rp47.5bn ($683m) IPO, having filed the final terms for India’s first Reit listing.

Asia’s primary bond market has started the year with a bang. New dollar issuance has been steady, and issuers are getting increasingly confident in their ability to court investors with what can only be considered bull market deals. But the market isn’t strong enough to allow issuers to get away with such aggressive terms for long.

Citi's head of capital market origination in Asia Pacific is taking over the bank's Indian operation.

The Democratic Socialist Republic of Sri Lanka sealed a $2.4bn bond after shaking off investor concerns about the country’s political turmoil and ratings downgrades.

Indian energy company ReNew Power sealed a $375m bond sale on Tuesday with the help of a new, direct issuance structure. But although the notes were deemed to be more issuer-friendly than ReNew’s previous transaction, many were left puzzled by the borrower’s complicated approach to offshore fundraising. Morgan Davis reports.