Asean

Far East Horizon and Asian Development Bank added a bit of life to the dim sum bond market in February, raising Rmb740m ($110.4m) between them. Bankers think looming maturities could give them more business this year.

Philippine oil company Petron Corp has returned to the offshore loan market after a two year absence, picking a bigger lead group that has allowed it to achieve much tighter pricing.

Singapore Power, a government owned electricity and gas distributor, grabbed investor attention on Wednesday and raised $600m from a rare trip to the international bond market.

Malaysia-based firm Top Glove Labuan tapped the equity-linked market for the first time on Wednesday, raising $200m after printing a five year non-call three exchangeable bond.

An investor protection deal between the EU and Singapore, approved by the European Parliament last week, would make sovereign debt restructurings harder for governments to manage, according to industry observers.

Home Credit Vietnam has launched an up to $60m loan into general syndication after two year absence.

South Korean supermarket chain Homeplus Stores is nearing a $1.5bn real estate investment trust listing. The deal deserves attention in its own right. But it also serves as a stark reminder that Singapore, once the quintessential Reit listing venue in Asia, has fallen from grace.

China Forestry Group has returned to the offshore market, raising its second international loan through a Singaporean subsidiary.

Philippine-based PH Resorts Group (PHR) has opened bookbuilding for a potential Ps10.4bn ($198.8m) follow-on offering of common shares.

Adira Dinamika Multi Finance has launched a $250m three year term loan into general syndication. The deal was led by five lenders.

PetroVietnam Gas Joint Stock Corp has picked Mizuho as sole mandated lead arranger and bookrunner for a $200m borrowing. It is the latest sign of a boom in southeast Asia’s offshore loan market that is leaving bankers divided on pricing, tenors and covenant packages.

China’s Chow Tai Fook and Vietnam’s Vingroup have returned to the offshore loan market, with both borrowers inviting banks to join senior syndication.