Asean

Vietnam Engine and Agricultural Machinery Corp is set to raise at least D2.4tr ($107.6m) from a listing as it tees up the country’s largest IPO so far this year.

The Yangon Stock Exchange has given the go ahead to Myanmar Citizens Bank (MCB) to float on the bourse, which will make it the third entity to do so.

Singapore’s Suntec real estate investment trust (Reit) sold its first convertible bond in three years on Thursday, raising S$300m ($223.1m) after exercising the full greenshoe on the deal.

China Construction Bank’s Singapore branch sealed a Rmb1bn ($150m) dim sum transaction Thursday, putting an end to a one-month silence in the offshore renminbi (CNH) debt market.

Sumitomo Mitsui Banking Corp has made a number of changes to its organisation in Hong Kong and Singapore, in a bid to improve its distribution platform.

Pricing on a $1.5bn borrowing for Indonesian state-owned oil company Pertamina has become a talking point among loans bankers. Some believe that the loan will not have an easy time in syndication as the cost of funds at Japanese and Taiwanese lenders creeps up, writes Shruti Chaturvedi.

Increased provisioning and DBS’ high exposure to Swiber has raised some questions about the bank’s handling of the problem and the overall quality of Singaporean lenders’ portfolios, considering their local market is heavily composed companies in cyclical sectors such as oil and gas.

A secondary share sale in Filipino conglomerate GT Capital Holdings fetched Ps8.03bn ($172.14m) on Wednesday, with a shareholder cashing in just as the stock vaulted to a record high.

Waskita Beton Precast is poised to raise up to Rph5.27tr ($402.63m) in what could be Indonesia’s largest IPO in five years, with the firm launching a two week roadshow on Wednesday.

A $725m loan for Indonesia Eximbank has been allocated, with lenders that committed only to the shorter, three year tranche, experiencing a bigger scaleback than those that opted for the five year.

Philippine property conglomerate SM Prime Holdings is planning to raise as much as $1bn with an IPO of a real estate investment trust (Reit).

Guillaume du Cheyron, head of high yield bond origination and execution for Asia, has left Deutsche Bank.