Asean

Sarimelati Kencana, the owner of the Pizza Hut franchise in Indonesia, began premarketing its $100m IPO this week, as the country’s equities market gears up for more action.

Indonesia Eximbank has returned to bank lenders with a $950m loan, slashing pricing on all three of its tranches. It is making the most of a dearth of supply from other Indonesian borrowers, writes Pan Yue.

San Miguel Pure Foods (SMPF), the Philippine food and beverage conglomerate, has suggested it could more than double a planned follow-on to $3.6bn, making it the country’s largest equity deal.

Covered bonds issued by Swedish Covered Bond Corp and Overseas Chinese Banking Corp on Wednesday were thinly oversubscribed though investor preference was clearly slanted towards the most defensive five year Swedish offering.

Logan Property Holdings Company sold its first Singapore-dollar denominated bond on Tuesday to support its growing presence in the country, raising a larger-than-expected S$200m ($152.6m). The deal is the first in the currency from a Chinese real estate name in almost four years.

Indonesia Eximbank is riding on the strong interest among bank lenders for its past fundraisings to launch a new $950m multi-tranche loan at razor-thin pricing levels.

A group of 23 banks opened syndication for Tata Steel’s $1.86bn dual-currency facility on Monday, but only after the deal went through numerous changes on its way to the market.

Sarimelati Kencana, the owner of the Pizza Hut franchise in Indonesia, has started talking to investors about a $100m IPO, according to bankers close to the trade.

Mapletree Greater China Commercial Trust (MGCCT) has hired banks to manage a S$323.1m ($246m) equity raise that will be used to buy some Japanese assets.

Qualitas Medical is likely to price its S$100m ($77m) IPO in Singapore at the low end of guidance after bookbuilding was extended by two days.

Beijing and Washington raised the stakes in a trade stand-off with new tariffs, the chief executive of Hong Kong’s stock exchange remains upbeat despite the launch of Chinese depository receipts (CDRs) and Bank of China’s cross-border RMB index ends 2017 on the up.

Bank BRISyariah is out with Indonesia’s first chunky IPO of the year, launching an up to Rph1.7tr ($123.4m) share sale.