Asean

Malaysia’s WCT Holdings is aiming to list its construction arm in a MR600m ($148.78m) IPO by the second quarter of next year.

Indonesian telecommunications tower company Solusi Tunas Pratama is looking to replace its dollar debt with local currency borrowings in a bid to curb risks from foreign exchange movements.

Indonesia’s Sri Rejeki Isman (Sritex) is poised to launch a new bond on June 1 as soon as a tender offer to buy back its outstanding notes expires.

Indonesia’s Cikarang Listrindo has allocated its Rph3.6tr ($264m) IPO to an investor base comprising mainly long-only accounts, deciding not to enlarge the float despite having enough demand, said a source with direct knowledge of the matter.

Commodities trader Gunvor Singapore has increased the size of its latest loan to $1.041bn from the launch size of $750m, signing the deal on May 25, according to sources.

European issuers are tapping into select pools of liquidity in Asia, with Taiwan and Singapore proving they can deliver both size and cost effective funding. And as deal volume in Asia declines, European bonds are also benefiting from a higher take up from Asian central banks and sovereign wealth funds. Rashmi Kumar reports.

Cemex Holdings Philippines is planning to start pre-marketing its potential $500m IPO from the first week of June, according to a source with direct knowledge of the matter.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has allocated its latest borrowing at an increased size of $350m.

The position of treasurer at the Asia Pacific Loan Market Association (APLMA) has changed hands after eight years.

French lender BPCE became the latest bank to shore up its Basel III tier two capital in the Singapore dollar bond market this week.

DBS Bank in Singapore this week issued its first deal in Australian dollars, the first covered bond from an Asian lender and the first benchmark sized Kangaroo covered bond of the year.

Indonesian textile company Delta Dunia Sandang Tekstil has sent out preliminary invitations for participation in its latest $260m fundraising.