Asean

HM Sampoerna, the Indonesian arm of cigarette giant Philip Morris International, will go to shareholders to raise up to Rph26.70tr ($1.98bn) via a rights issue as it seeks to increase its free float.

Metro Retail shops around $123m float — Alkem Laboratories files $200m listing — CRCC High-Tech gets IPO on track

The Singapore IPO market finally has something to look forward to, after a quiet year to date, thanks to Jiangxi Jiangling Chassis, which filed its preliminary prospectus on August 12.

Myanmar has moved closer to an offshore bond issue after circulating a draft law clarifying how the sovereign can raise debt, and hiring Citi and Standard Chartered as ratings advisers. The moves have been welcomed but investors have been warned to expect a long wait before they get their hands on any deal, writes Shruti Chaturvedi.

San Miguel Corporation’s SMC Global Power Holdings Corp has mandated eight banks as the company hopes to return to the dollar bond market with perpetual subordinated notes.

Malaysia’s Hong Leong Bank has announced plans for an MR3bn ($752m) rights issue in the fourth quarter of 2015 as the lender seeks to beef up its capital buffers.

VietinBank, one of the four largest state owned commercial lenders from Vietnam, is accessing the offshore syndicated loan market for the third time this year, via a $100m three year that is now in general syndication. The margin on the loan is below 200bp.

Malaysia’s Johor Corp (JCorp) has fixed the pricing of its Al-Salam Reit IPO at MR1 ($0.25) per unit, with bookbuilding scheduled to begin at the start of September.

A $550m borrowing for Bank Rakyat Indonesia’s (BRI), which is due to be prefunded by a club of 11 banks, is expected to go into general syndication. Lenders are waiting for Bank Indonesia approval and are targeting signing by the end of August, with the first drawdown in the first week of September.

The Government of the Union of Myanmar has hired Citi and Standard Chartered as sovereign credit rating advisers as it looks to pave its way to the international debt market.

A Standard Chartered led borrowing for automobile parts maker Zhongding Hong Kong will see the company fully exercise a greenshoe, taking the loan size to €150m ($165m). Eight banks have committed to the facility during general syndication and two more are processing their approvals.

The Asian Development Bank (ADB) has received approval to provide a loan and partial credit guarantee to support the issuance of what could be the Philippines’ first green bond.