Asean

Philippine conglomerate San Miguel Corp and its power unit SMC Global Power are jointly seeking a $1.1bn loan to finance a $1.9bn acquisition of a power plant in the country.

Medikaloka Hermina has hit screens for an IPO in Indonesia to raise up to Rph2.6tr ($193m) in primary and secondary proceeds.

Malaysia’s edotco, a unit of telecommunications firm Axiata Group, is close to selecting banks for a possible $1bn IPO.

Singapore’s United Overseas Bank made its first foray into the US market on Monday, raising $1.2bn from a two-tranche transaction, receiving strong support from US accounts.

Vinhomes is gearing up to launch the largest IPO in Vietnam, kicking off investor education for the up to $2bn share sale.

Commodities trader Gunvor Singapore is back for its annual refinancing, attracting commitments from 13 banks even before the $800m loan was launched into general syndication.

Indonesia’s ratings upgrade last week is positive, but came ahead of an expected slowdown in investments into the southeast Asian country ahead of the 2019 general election, say market watchers.

Industrial and Commercial Bank of China’s Singapore branch aims to underwrite IPOs of Chinese companies in the city-state after receiving accreditation as an issue manager from the Singapore Exchange.

Indonesia’s Surya Pertiwi kicked off bookbuilding for its potential Rph1.64tr ($119.1m) IPO on Monday, joining a handful of other companies also seeking a domestic float.

Indonesian petrochemicals manufacturer Barito Pacific has set a price range for its rights offering to bag up to Rph18.5tr ($1.3bn).

Summit Power International has opened books for the first IPO of a Bangladeshi firm in Singapore, hoping to raise $260m.

HSBC has created a new head of Belt and Road Initiative (BRI) position for Asia Pacific, naming Mukhtar Hussain to the job.