Asean

JP Morgan’s head of Malaysia investment banking Didi Yahya has left the firm, according to sources close to the move.

Indonesia’s Pertamina is planning a $1bn five year borrowing that includes a greenshoe option and has sent out a request for proposals to banks, according to bankers close to the situation.

Canada’s Manulife Financial Corp and Singapore’s Mapletree Logistics Trust have added their names to the growing list of issuers accessing the Singapore dollar market for subordinated debt. And thanks to the comeback of private banks in the country, more issuers — both foreign and local — are expected to follow suit, reckon syndicate bankers.

BlackRock has named Justin Ferrier as managing director of the Asian private credit platform, as the investment manager seeks to fill the gap left by banks withdrawing from traditional lending, it said in a press release on Tuesday.

The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.

Indonesia’s Cikarang Listrindo has kicked off bookbuilding for its IPO, which could raise up to $357m, with the deal already covered by anchor investors, said a source close to the deal.

TPI Polene Power is looking to list on the Stock Exchange of Thailand via leads CIMB, Maybank and Tisco Securities.

The Republic of Indonesia has mandated three banks to work on a Samurai bond that is expected to launch later in the year.

Lenders are waiting for an update on PetroVietnam Exploration Production Corp’s request to waive a covenant on a borrowing sealed in 2012.

DBS has seen one departure each in its loans teams in Singapore and Hong Kong, according to sources.

The Philippines’ tough-talking new president may be ruffling feathers with his firebrand public persona but bankers and market watchers have mostly brushed this off and said the country is poised to see a resumption in primary equity and debt issuance. But the leader’s thinking on the economy remains a wild card, writes John Loh.

Three banks have seen changes to their loan syndication teams in Asia following departures and internal moves.