Asean

Credit Guarantee & Investment Facility (CGIF) and infrastructure consulting firm Surbana Jurong are joining up to boost the use of local currency bonds in funding greenfield infrastructure projects in southeast Asia.

Lotte Chemical Titan, the Malaysia-based arm of South Korean conglomerate Lotte Group, has fixed a ceiling price for its MR5.9bn ($1.4bn) IPO.

Internet and mobile platform company Sea, formerly known as Garena Interactive Holding, is planning a US IPO, according to a source familiar with the matter.

Malaysia’s Axis Real Estate Investment Trust is planning a placement of new units that could raise some MR465.4m ($108.1m), said the company.

The Republic of Indonesia released further guidance for its four-tranche yen transaction on Wednesday, with pricing expected in a week. The Samurai bond comes around the time the sovereign regained its investment grade status from the last of the three major ratings agencies

Beijing Gas Group Company and China Construction Bank (Hong Kong) have opened books for a fixed five year bullet and a three year floater, respectively.

ANZ has appointed a new chief executive officer for the Philippines, picking from within for the top role.

S&P has raised Indonesia’s long-term sovereign credit rating to BBB- from BB+ with a stable outlook, on the back of reduced risks to the country’s fiscal metrics. Seven corporates were also upgraded by the agency last Friday.

The subscription period has kicked off for the IPO of Sihanoukville Autonomous Port, set to be the fifth and largest listing in Cambodia.

Transportation Partners and China National Chemical Corp will meet fixed income accounts for their respective dollar bonds, while names like Poly Culture Group Corp, Macrolink Culturaltainment Development Co, Oceanwide Holdings Co and Jiangxi Ganfeng Lithium Co are planning to go offshore.

Vietnam Prosperity Joint Stock Commercial Bank is drumming up interest for its planned IPO, set to be one of the largest in the country at $250m. The trade is already in hot demand, as foreign interest in the country grows and domestic investors seek out more stocks. Jonathan Breen reports.

ANZ has tapped one of its own as the new debt capital markets head for south and southeast Asia, effective immediately.