Asean

Japan Post sets sail with IPOs — Datang Environment files in HK — Banpu Power eyes Thai float — Larsen & Toubro seeks $300m listing

The Islamic finance market is looking to welcome its first Chinese participant after Country Garden Holdings this week announced plans to issue a Murabahah sukuk. But the property developer’s currency of choice — the ringgit — suggests that plenty of work is needed for sukuk to gain traction in north Asia, writes Rev Hui.

Standard Chartered has reorganised its capital markets operations, splitting its DCM and loan syndications units. Coinciding with the rejig is the departure of Aaron Russell-Davison as the head of debt capital markets, with more changes expected to take place.

Duo leads Tata Chem’s sterling financing — ONGC to net $1.775bn from four — Viettel Cambodia beams $50m loan — Minsheng Leasing trims borrowing to $150m

Poultry feed producer Charoen Pokphand (CP) Indonesia is tapping the syndicated loan market for a $355m dual-currency fundraising, split between rupiah and dollars.

A $550m three tranche borrowing for Bank Rakyat Indonesia (BRI) has launched into general syndication, but not all the mandated lead arrangers and bookrunners are looking to sell down.

Ascendas Real Estate Investment Trust (Reit) attracted strong demand for its S$300m ($210m) subordinated perpetual bond, with institutional investors drawn to its credit rating and good name.

Australia-listed gold miner Kingsgate Consolidated expects to delay the IPO of its subsidiary in Thailand due to unfavourable market conditions, even as it fends off accusations of corruption dogging its Thai unit.

Aaron Russell-Davison has left his role as Standard Chartered’s head of debt capital markets, his move coinciding with the bank reorganising its capital markets operations, according to sources close to the situation.

ING has appointed a new director to its syndicated finance team in Asia Pacific, replacing a banker who has moved to a new department within the firm.

Datang Environment Industry Group Co, a unit of state-owned China Datang Group, is seeking to list in Hong Kong, tapping Citic CLSA Securities and Morgan Stanley as joint sponsors.

Ascendas Real Estate Investment Trust (Reit) is looking to raise capital for a planned acquisition in Australia, wooing investors in the Singapore dollar hybrid market.