Asean

Australia and New Zealand Bank has lost a member of its loan syndications team in Singapore, according to sources close to the move.

BOC Aviation is out with a $1bn borrowing, opening the dual tranche deal into general syndication on Tuesday, according to bankers.

It has been 10 months since Malaysia received its renminbi qualified institutional investor (RQFII) allotment from China yet not a single institution from the southeast Asian country has been able to attain a licence. However, the lack of progress is about to end with several market participants telling GlobalRMB they are confident the first RQFII licence could be awarded by the end of the year.

DBS Bank in Singapore has mandated leads for a roadshow to market its first euro-denominated covered bond, and the second from a Singaporean lender in euros.

Silk Road bonds are one of the latest gimmicks bankers are trying to promote with an event dedicated to the topic taking place in Hong Kong last week. While the concept of the bonds, linked directly to China’s ambitious Belt and Road initiative, is promising, proper guidelines need to be in place for the product to take off.

Frasers Hospitality Real Estate Investment Trust has launched a rights issue to raise up to S$266m ($195.1m), according to a filing with the Singapore Exchange.

ASEAN’s capital markets regulators are working on a plan to grow the domestic bond markets of Cambodia, Laos, Myanmar and Vietnam (CLMV), with the Securities and Exchange Commission Cambodia (SECC) leading the charge.

Khazanah Nasional has raised MR1.2bn ($295.3m) after offloading a chunk of shares in Malaysian utility company Tenaga Nasional.

Olam International returned with a $150m tap of its existing notes this week, managing to find strong demand from fund managers despite ending up with only a modest order book.

A long drawn out fundraising for MNC Sky Vision is coming down to the wire after Moody’s downgraded its parent this week, citing refinancing risks. A default could spell more bad news for Indonesian borrowers, especially coming so close to last month’s missed payment by Royal Industries Indonesia. John Loh reports.

The southeast Asian businesses of Standard Chartered have come into focus recently, with the bank naming new CEOs for its Thailand and Philippine offices.

Indonesian power producer Cikarang Listrindo slashed its funding costs and extended the maturity of its debt profile with a popular $550m 10 year note priced at a 4.96% coupon — setting a new benchmark for the country’s issuers.