Asean

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.

Vincom Retail, a subsidiary of Vietnamese conglomerate Vingroup, has filed for approval to list on the Ho Chi Minh City Stock Exchange, targeting a $600m IPO.

Paper and pulp company APP China is testing investors’ appetite for an unrated dollar bond, about 15 years after its Indonesian parent Asia Pulp & Paper Group defaulted on close to $14bn of debt.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

Panda bonds issued by non-red chip foreign names are being snubbed by Chinese investors with a home bias – an opportunity international investors should not overlook, Wilfred Wee, portfolio manager at Investec Asset Management, told GlobalRMB in a wide-ranging interview.

Cromwell European Real Estate Investment Trust has cancelled its potential €738.8m listing on the Singapore Exchange due to market conditions, after first trying to get past the finish line with a smaller offering.

Banque Pour Le Commerce Exterieur Lao Public (BCEL), the biggest state-owned lender in Laos, is set to make its offshore loan debut with a $100m four year facility.

Thai paint producer TOA Paint is looking to raise up to Bt12.2bn ($368.5m) from its IPO, set for the last week of September.

Net FX sales by Chinese bank are down 75% month-on-month in August, an advisor to the People’s Bank of China urges push for renminbi internationalisation as the currency strengthens, and Portugal hires banks for its first Panda bond issuance.

CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.