Asean

Lenders that have chipped in for Bank Negara Indonesia’s $750m facility can expect to be scaled back by close to 50% of their original commitments, said bankers close to the trade. Allocations are due to be announced in the next few days.

Indonesia’s Bowsprit Asset Management has extended the bookbuilding period for the potential Rph2.45tr ($183.4m) IPO of Dire Bowsprit Commercial & Infrastructure, according to a source at the asset manager.

Singapore-listed commodities company Noble Group, ICBC International and China SCE Property Holdings were out of the gates on Monday morning for new dollar outings, coming before a widely expected Federal Reserve rate hike this month.

Indonesian palm oil seller Royal Industries has failed to repay the first and second installments of a $405m loan raised in 2015, and has now proposed a restructuring.

A Singapore-based banker who worked on south and southeast Asian loan syndications for Sumitomo Mitsui Banking Corp has left, according to a source.

Indonesian telecom infrastructure provider Tower Bersama Infrastructure has approached its relationship banks for borrowings worth $500m.

UBS’s co-head of global capital markets for Australasia Dane FitzGibbon is leaving the bank, according to sources close to the move.

Singapore-based agricultural and commodities firm Olam International added variety to the debt market this week with a $300m bond that had an unusual tenor, as analysts were left divided over the final pricing.

Hangzhou Mi Lu Technology Co, which owns Chinese social media platform kktv5.com, is laying the groundwork for a Hong Kong IPO this year, according to bankers close to the matter.

The heat is on for IPOs in south-east Asia, with banks staging charm offensives towards investors during pre-marketing.

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

Malaysia-based Lotte Chemical Titan has hired a trio of banks for its potential $1bn domestic listing this year, according to a banker close to the transaction.