Asean

Solusi Tunas Pratama is set to begin marketing a new $590m-equivalent financing in dollars and rupiah to retail lenders, said bankers close to the trade.

Indonesian coal company Toba Bara Sejahtra culled its debut dollar bond on Monday, as turbulent markets and new domestic rules around caps on coal prices put investors in risk-off mode.

Philippine real estate developer DoubleDragon Properties Corp is looking to raise Ps7.5bn ($144m) through a follow-on offering of shares.

Four Asian issuers began marketing dollar deals on Monday, as a number of others started testing buy-side appetite through roadshows. But borrowers will have to temper their expectations on size and price, faced with a choppy market backdrop.

The Philippines’ Rizal Commercial Banking Corp (RCBC) found tepid investor demand for its dollar transaction on Thursday, but managed to raise $300m from the bond.

Temasek Holdings made a splash in the block market this week, raising W1.07tr ($1bn) with a pair of overnight trades in South Korean pharmaceutical company Celltrion and its distribution arm Celltrion Healthcare — an approach that was in line with the Singapore sovereign wealth fund’s strategy to rebalance its portfolio. Jonathan Breen reports.

Chinese outlet mall trust Sasseur Reit has kicked off a fixed price bookbuilding for its S$396m ($301.3m) Singapore IPO, placing nearly half the deal with cornerstone investors.

Oversea-Chinese Banking Corp issued a five year sterling floating rate bond on Wednesday but was unable to match the size or spread of United Overseas Bank, which recently issued the first Singaporean covered bond in sterling.

Philippine property developer DM Wenceslao & Associates has laid the groundwork for an IPO of up to Ps15.6bn ($300m), filing a draft prospectus on Tuesday.

Société Générale has promoted Raj Malhotra to the position of head of debt capital markets for Asia Pacific, according to a press release on Wednesday.

Dublin, Ireland-based Fly Leasing plans to raise a $1.3bn loan to acquire aircraft assets from budget carrier AirAsia.

Derivatives exchanges around the world reported strong February volumes this week, potentially painting a rosy picture for the year ahead as markets seem set to return to higher volatility.