Asean

Asia’s green finance story is not just about China and India. Although the US has threatened to pull out of the Paris Agreement, southeast Asia has reiterated its commitment to sustainability. As Morgan Davis reports, that is beginning to be felt in its financial markets, where countries such as Malaysia, Singapore and Indonesia are exploring ways to foster green financing.

Macquarie Capital has appointed Justin Ocampo as a managing director and the head of its Philippines office.

Oversea-Chinese Banking Corporation (OCBC) issued a €500m five year covered bond on Thursday that was more oversubscribed than any previous Singaporean deal and priced inside fair value in what a lead manager described as ‘a one-way market’.

Geo Energy Resources found success on Wednesday with its second attempt to sell a debut dollar bond, after waiting two months for a receptive market window.

Singapore-based Sea began pre-marketing a potential $1bn US IPO this week, according to a banker close to the deal.

Vincom Retail, a subsidiary of Vietnamese conglomerate Vingroup, has started pre-deal investor education for its $600m IPO, and is working on an unusually short roadshow-to-listing schedule.

Four firms from Asia ex-Japan are taking bids for their dollar bonds, including Lionbridge Capital Co, Nan Hai Corp, Overseas Chinese Town Enterprises Company as well as Malaysia’s Yinson Holdings.

Oversea-Chinese Banking Corporation (OCBC) and NordLB have signalled their intention to exploit exceptionally strong covered bond market conditions and open order books for transactions on Thursday.

The largest Indonesian IPO in years was dealt a blow when Garuda Maintenance Facility AeroAsia (GMF) was forced to take a knife to its Rph3.2tr ($245.5m) trade. The pipeline for new listings in the country is now in a state of flux, despite looking much brighter only a few months ago. John Loh reports.

Indonesian company Asia Pulp & Paper’s high profile default 16 years ago appears to be still fresh in the minds of investors. Its unit APP China Group sealed a modest $150m bond on Tuesday, but had to entice the buy-side with a juicy yield and a short tenor.

Geo Energy Resources is making a second attempt at selling a dollar bond, two months after the Indonesian coal producer decided to cancel its transaction.

Indonesia’s Indika Energy is hunting for more dollar debt, six months after securing $265m on the back of a nearly five times covered book.