Asean

BNP Paribas has added a new member to its capital raising and financing group in Singapore, poaching Mrinal Parekh from Deutsche Bank.

L Capital Asia, one of the private equity arms of French luxury company LVMH, is seeking a $130m five year debut loan that has launched into syndication.

Malaysia’s Hong Leong Financial Group has sealed its MR1.1bn ($261m) rights issue as shareholders piled into the trade, leading to an oversubscription.

BoC Aviation has wrapped up its latest borrowing at a bigger size of $500m as banks from across Asia poured into the transaction.

Credit Suisse has shaken up its top ranks in Asia Pacific, with changes made to its equity capital markets and southeast Asia investment banking units.

The Republic of Indonesia has returned to the dollar bond market for the third time this year for an up to $4bn deal, while eHi Car Services and Golden Wheel Tiandi Holdings are attracting high yield bids.

Cambodia’s Union Commercial Bank has approached the loan market for a $100m three year fundraising. The borrower is majority owned by Taiwan’s E.Sun Commercial Bank.

Around this time last year, I reviewed the dismal performance of the Hong Kong primary markets, and ventured a guess that investors could instead turn en masse to ECM transactions in Malaysia, Singapore, Thailand, Indonesia - and even the Philippines. How wrong I was!

Philippine property developer DM Wenceslao and Associates, which was expected to open books for its IPO of around Ps10.73bn ($227m) this week, has pulled the plug on the transaction until next year.

DM Wenceslao and Associates has trimmed the maximum offer price on its IPO of up to Ps10.73bn ($227m) to Ps25 from Ps44, as it gears up to launch and price the deal in the coming weeks.

Thailand’s Star Petroleum Refining successfully wrapped up its Bt13bn ($365m) IPO on Thursday. But while the trade was oversubscribed, it decided not to go ahead with an increase and greenshoe option.

Morgan Stanley has made a series of high level changes to its business with Eric Ma taking the helm as vice-chairman for southeast Asia, according to an internal memo seen by GlobalCapital Asia.