Asean

Indonesia’s Pertamina is expected to launch its long awaited $1.5bn five year financing into general syndication this week, punctuating a quiet period for the southeast Asian loan market.

Louis Dreyfus Commodities Asia has wrapped up a $600m revolver after overwhelming demand allowed it to allocate the full greenshoe to banks, raising the total amount by $100m.

DBS Group's profits stumbled during the second quarter of 2016 as the bank had to put provisions aside to deal with potential effects from its exposure to troubled energy services firm Swiber Group.

The Singapore Exchange is going ahead with its plan to acquire London-based Baltic Exchange for £77.6m ($101.7m), half a year after submitting a non-binding bid for the shipping bourse.

VietinBank, one of the largest state-owned commercial lenders in Vietnam, is back in the market with a $100m bullet just five months after signing its previous loan. This time around, the borrower has managed to narrow the margin by 40bp.

Details have emerged on agricultural trading and processing company Cofco Agri’s $2.6bn two tranche refinancing, for which a roadshow was held in Singapore last week.

Lippo Karawaci navigated a crowded primary bond market on Wednesday to add $260m to its 2022s with a tap. The success of the deal reflects a big improvement in market sentiment compared with the early part of the year, when the Indonesian developer failed to pull off an exchange offer.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.

Philippine company Aboitiz Equity Ventures jumped at a chance to sell a Ps4.7bn ($100.0m) block of shares on Tuesday, taking advantage of a share price that is up nearly 30% year-to-date.

Ascendas Real Estate Investment Trust’s S$155m ($114m) overnight share sale proved to be hot property as the deal was six times covered and was priced at the top of its expected range — at a mere 1% discount.

Singapore-listed Ezion Holdings has wrapped up a rights issue of nearly 500m new shares, raising S$141.3m ($105.3m).

The Employees Provident Fund (EPF) of Malaysia is making a rapid return to the loan market, mandating two lenders for a £240m ($317m) new money trade.