Asean

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.

Two Hong Kong-based loans bankers from Bank of America Merrill Lynch’s Asia Pacific debt solutions team have left, while Bank of Tokyo-Mitsubishi UFJ has lost its southeast Asia loans head.

Asia’s block market got a boost this week as investors sold down stakes in Longfor Properties Co and People's Insurance Company of China (PICC) in Hong Kong, while Lippo Group trimmed its holding in Indonesia’s Matahari Department Store.

The solar unit of Thai oil refiner Bangchak Petroleum is looking to raise up to Bt5.9bn ($170.7m) from its IPO, announcing the price range on Tuesday.

Vietnam’s Vingroup Joint Stock Company has allocated its $300m borrowing after selling the full greenshoe of $60m.