Asean

Qualitas Medical Group is preparing to launch an IPO of around S$150m ($114.4m) on the Singapore Exchange, said a banker on the deal.

Commodities trader Noble Group decided not to repay a $379m bond that matured this week, triggering an event of default. But the latest development got little reaction from the market, as the company has long been in the process of restructuring almost $3.4bn of debt.

Thailand’s Ratchaburi Electricity Generating Holding Public Co (Ratch) made a rare appearance in the debt market on Tuesday, raising $300m at a tight price thanks to its scarcity appeal.

Westpac Banking Corp has appointed Michael Correa as general manager for Asia Pacific.

There was a rare sighting in the Panda bond market this week, as international investors outnumbered their onshore counterparts. The Republic of the Philippines completed its first transaction in the asset class, taking home Rmb1.46bn ($230.8m).

Malaysian state-owned oil and gas company Petronas’s chemicals unit has signed a bridge loan for $1bn as part of the conditions of its divestment agreement with Saudi Aramco.

Malaysian rubber gloves manufacturer Top Glove Corp has sealed a $310m loan, with robust support from banks making the deal 2.5 times covered.

UBS is keeping the equity blocks market busy in Asia, launching two deals consecutively in the Philippines and Hong Kong — both as sole bookrunner.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has mandated ANZ as the sole mandated lead arranger and bookrunner for a $100m bullet loan, according to sources close to the deal.

The Vietnamese government is looking to raise up to D6tr ($263.4m) from an IPO of pay-TV service provider VTVCab, a unit of state-owned broadcaster Vietnam Television.

Bank of the Philippine Islands has firmed up the launch date and number of shares for its Ps50bn ($961.5m) rights issue.

Lotte Shopping raised W303.6bn ($285.4m) from a five year put three exchangeable bond on Wednesday, which some bankers thought was priced at overly generous terms.