Asean

The Republic of Indonesia sold one of its classic blockbuster deals this week, raising more than $3bn from a three-tranche bond in euros and dollars. The transaction was a mix of self-promotion and opportunism — and further cements the country’s reputation as one of the savviest issuers in the region, writes Morgan Davis.

Saka Energi Indonesia, the upstream oil and gas arm of state-owned Perusahaan Gas Negara, is back in the loan market for a $200m-$300m deal with a bigger top group when compared with its previous borrowing.

As the mythical summer lull approaches the Asian market, bankers are naturally planning their getaways. But for a lucky few, workdays can often look like holidays in all but name.

Indonesian consumer lender BFI Finance is preparing to launch a loan of about $100m into general syndication, after mandating three banks as leads.

Thai property developer Singha Estate raised $229m on Wednesday from its first visit to the equity capital market, tapping international and domestic investors with a convertible bond and share placement combo.

Thailand’s PTT Exploration and Production (PTTEP) raised $500m from its new perpetual non-call five bond on Wednesday, while simultaneously conducting a buyback of its existing notes.

The Republic of Indonesia sealed a $3bn-plus triple tranche deal on Tuesday, in a transaction that proved both opportunistic and strategic for the southeast Asian country.

QSR Brands is not expected to launch its MR2bn ($466m) Malaysia IPO until the end of the year due to operational issues, according to bankers.

Thailand’s PTT Exploration and Production (PTTEP) began marketing a perpetual non call five on Wednesday as part of a liability management exercise.

Bright Food launched a three year euro bond in Asia on Tuesday, setting initial guidance at 140bp over mid-swaps. The Chinese food and drink producer had roadshowed for a three or five year issue in Asia and Europe last week.

Allocations are out for a $200m borrowing for Indonesian automobile finance company Mandiri Tunas Finance (MTF).

Indonesian vehicle financier BFI Finance is returning to the loan market after a two year break, mandating three banks for its borrowing.