Asean

Hong Kong-listed NagaCorp raised a larger than expected HK$950m ($123m) after boosting the number of shares sold in its overnight equity offering, even though it priced at the bottom of guidance.

Investors had ample opportunity to indulge in bank capital credits this week, with United Overseas Bank sealing a $600m additional tier two offering on Wednesday, just a day after DBS’s landmark AT1 dollar note.

A senior banker in the Asia Pacific financing division of Credit Suisse has stepped into a newly created position at the bank.

DBS Bank sealed a landmark $750m additional tier one (AT1) bank capital deal on Tuesday, marking not just its first dollar AT1 but also the first from a Singaporean lender. Despite the lowest ever coupon globally for this asset class, investors feasted on the credit, reports Addison Gong.

NagaCorp, which operates the only licensed casino in Cambodia's capital, has launched a top-up placement that could raise up to HK$832m ($107m), ending a three year absence from the equity market.

JP Morgan has lost Singapore-based Chetan Singh to UK insurer Aviva, where he will lead mergers and acquisitions globally.

Just a day after DBS sealed a $750m deal from a Basel III compliant additional tier one note, the bank capital market has seen some fresh action with United Overseas Bank eyeing a tier two offering.

Royal Industries Indonesia, which failed to pay the first principal instalment of a loan borrowed in June 2015, has asked banks for additional funds to help resolve its liquidity problem.

The Indian government has picked three banks to work on its 15% sell down in construction firm NBCC, according to sources.

Electricite du Laos Generation Public Company (EDL Gen), which started bookbuilding for its debut dollar bond in Thailand last Friday, has settled on raising $312m from three tranches, according to a source.

Sukuk stepped into the spotlight after JP Morgan decided to include Islamic bonds in its EM bond indices, but while eligibility will give the asset class a boost, it will be a while before the product is more broadly used.

The Singapore Exchange has received the go ahead from its listing advisory committee to allow companies to float using a new structure, in an effort to deepen the city-state’s capital markets.