Asean

The Singapore dollar bond market saw some action on November 26 with Korea Development Bank (KDB) selling a deal in the Lion City.

Two of the pre-IPO investors in Malaysia’s Malakoff Corp have divested their entire residual stake via a MR444m ($105m) block, with the deal buoyed by local demand and strong interest from one domestic pension fund.

Thailand's Precious Shipping Public Company (PSL) is looking to make its maiden foray into the offshore bond market with a Singapore dollar deal early next year.

San Miguel Corp, which is looking to set up a new mobile network joint venture in the Philippines, is seeking as much as $1.1bn for it, via a combination of onshore and offshore loans.

Indonesian miner Berau Coal Energy is conducting a tender offer to buy back its two outstanding dollar bonds, the company announced on November 24.

The Singapore covered bond market could soon be welcoming a second participant after United Overseas Bank announced a $8bn global covered bond programme this week.

India’s Reliance Industries signed its $1.47bn dual-currency loan at the end of last week in Dubai, with the deal sealed following commitments from a group of around 30 lenders.

Saka Energi Indonesia, a subsidiary of Perusahaan Gas Negara, has hit the market for a financing of up to $600m and is giving the banks the option of booking the loan onshore or offshore.

BHG Retail Real Estate Investment Trust (Reit) has opened books for Singapore’s first mainboard IPO of the year, placing more than half of the S$255.8m ($181m) worth of stock in the hands of cornerstone investors.

Construction firm Datem, which received approval from the Philippine Stock Exchange earlier this month for its IPO, has decided to postpone its plans.

Mercuria Energy has wound up its latest multi-tranche loan at an increased size of $1.1bn. The shorter one year portion proved popular among lenders, but a three year tranche ended up being scaled back.

China Construction Bank (Asia) has priced a two year dim sum amid a market sentiment that is less than favourable for dim sum issuance. However like other recent deals from state-owned banks, this latest trade was driven more by diplomacy than funding needs.