Asean

A $310m two-part borrowing to support Malaysian surgical glove maker Top Glove Corp’s acquisition of Aspion has received two commitments.

Standard Chartered has appointed Lucy Taylor-Smith as global head of strategy, it said in a release on Wednesday.

Indonesia’s Medco Energi Internasional and China’s GCL New Energy Holdings bagged $500m each from debt investors on Tuesday, showing the appeal of the commodities and renewable industries.

Frasers Commercial Trust topped up its equity capital on Tuesday with a S$100m ($76.1m) placement of new units, boosted on the back of strong demand.

Indonesian construction services company Wijaya Karya sealed a Rph5.4tr ($404.7m) offshore rupiah bond on Monday, a key deal in the opening up of the Komodo bond market.

Komodo bonds — offshore Indonesian rupiah bonds — are finally sputtering into life. This week, the second such deal by an Indonesian company has shown their potential. But don’t count your dragons before they hatch. The market will always be limited — and that’s a good thing.

The Republic of Indonesia has mandated banks for a green dollar sukuk sale, marking the region’s first sovereign green issuance.

Singapore's SingHaiyi Group will go ahead with a rights offering to raise S$143.5m ($108.9m) after receiving regulatory approval, the company has said.

Indonesian construction services company Wijaya Karya began marketing an offshore rupiah deal on Monday morning, making it the second Komodo bond from the country to hit the market.

The Republic of the Philippines has wrapped up an SEC-registered transaction, raising $2bn from Asia’s first sovereign bond of the year, with $1.25bn going towards liability management. The new issuance made the country’s outstanding bonds look relatively attractive, said analysts.

China’s FX watchdog tells corporates to prepare for more volatility in the RMB exchange rate, the chief of China Banking Regulatory Commission (CBRC) criticises illegal activities in the banking sector, and a domestic Chinese credit rating agency moves US sovereign rating as a result of the recent tax cut.

Thai firm Canopus International has raised $200m from a bond exchangeable into shares of Indorama Ventures, the first zero coupon exchangeable with a Thailand-listed underlying stock.