Asean

Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.

Ho Chi Minh City Power has sealed Vietnam’s first syndicated financing in the onshore dong market, with a bevy of Taiwanese and South Korean lenders piling in.

DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.

In this round-up, China’s foreign reserves in October decrease $34bn due to the stronger dollar, monthly exports climbed more than expected, Singapore Exchange signed cooperation agreements to develop more opportunities for Chinese enterprises in Singapore.

Clifford Capital has netted $300m from its third debt outing of the year. Despite the Singapore firm’s frequency in 2018, it still managed to attract investors due to its rarity factor.

Goldman Sachs has restructured its capital markets teams in Asia, naming new co-heads for the equity and credit units.

Shenzhen International Holdings is set to issue its second Panda bond, seeking an ambitious Rmb4.7bn ($678m). Regular issuer GLP is also planning a comeback.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.

State-owned mining company Indonesia Asahan Aluminium (Inalum) closed a $4bn bond this week, letting loans bankers off the hook from a planned bridge facility. Addison Gong reports.

Indonesia’s Barito Pacific has returned to the loan market for an up to $200m refinancing, hiring two banks to run the deal.

Marlow Foods, a UK-based company that was acquired by the Philippines’ Monde Nissin Corp in 2015, is tapping the Asian loan market for the first time for ‎£120m ($156m).

Indonesia Asahan Aluminium (Inalum) has mandated seven banks for a chunky $2.85bn bridge loan to support its acquisition of Freeport Indonesia, a mining company.