Asean

The Laos government sold a five tranche baht-denominated bond in Thailand’s domestic market last week, netting Bt11bn ($309.7m) in proceeds. In its sixth deal in the Thai market, the sovereign targeted high net worth investors to tap into a new liquidity pool.

Therma Power, part of Philippine company Aboitiz Power Corp, is accessing the offshore loan market for a $650m unsecured financing.

Two live IPOs in Asia are seeing an encouraging response from investors, with Donald Trump’s surprise victory in the US presidential election having little impact on their bookbuilds.

Real estate investment company MYP is looking to seal a S$188.7m ($133.5m) rights issue in order to help fund its acquisition of the Straits Trading Building in Singapore.

Indonesia’s Sinar Mas Group is planning to float its power assets on the Singapore Exchange (SGX) through a potential $800m IPO, according to a source familiar with the matter.

Banks are yet to reach a unanimous decision on relaxations sought by Royal Industries Indonesia, which defaulted on the first principal repayment of a dual tranche loan signed in 2015. All lenders have to grant approval for the changes to be implemented.

Southeast Asian companies have provided plenty of M&A financing opportunities to banks this year, partly making up for the disappointing corporate loan volumes from the region. Large firms in the region are still flush with cash, giving loans bankers hope that event-driven activity will continue next year, writes Shruti Chaturvedi.

Singapore Exchange has completed its takeover of the Baltic Exchange in London.

Chinese property company Zhongshan Dasin Holdings is raising funds worth $419m in two currencies and multiple tenors.

A subsidiary of Malaysian telecommunications company Axiata Group, which approached the loan market for $100m in June, is overhauling and increasing the financing to $400m to fund potential acquisitions.

Zhongshan Dasin Holdings Co is planning to float a real estate investment trust on the Singapore Exchange via an IPO that could be worth around $400m, according to a source familiar with the matter.

Indonesian television broadcaster MNC Sky Vision has cut its latest fundraising to $170m — the second time it has reduced the deal size. The loan, which had been in general syndication since late June, attracted three commitments from retail lenders.