Asean

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.

MMC Corp, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, is considering spinning off its port assets in an IPO that could raise $750m-$1bn, according to sources close to the matter.

There was no sign of a summer slowdown in Asia’s bond market last week with five deals pricing in one day. But that momentum has not carried over into this week as a public holiday takes out some of the heat. But any pause is likely to be temporary, say bankers.