Asean

Indonesia palm oil company Perkebunan Nusantara III (PTPN) has signed an extension agreement for a $390.6m loan after almost a year-long discussion with banks.

Thai Beverage has postponed the multi-billion-dollar spin-off and listing of its brewery unit in Singapore, citing choppy markets and a surge in Covid-19 cases in Thailand.

The government of Malaysia is preparing to return to the dollar market for the first time in five years. It is marketing what will be the world's first sustainability sukuk from a sovereign borrower.

Goldman Sachs has poached Srijith Nair from Barclays to lead its southeast Asia financial institutional group business.

DBS Bank is aiming to reduce its thermal coal exposure to zero by 2039, joining a group of global investors and banks that have made similar commitments to tackle climate change.

Cambodia’s Prasac Microfinance Institution has returned to the loan market for $200m, narrowing pricing by 35bp compared to its last transaction in 2020.

Mining Industry Indonesia (Mind ID) is testing lenders’ appetite for a $1.5bn dual-tranche loan that has been launched into syndication through a group of eight banks.

Malaysia’s IPO market is set to pick up, with at least two chunky listings in the works, raising optimism among bankers for busy second and third quarters.

BIMB Holdings, a Malaysian financial holding company, has raised MR795.6m ($192.4m) from a primary placement of shares, part of a group-wide restructuring that is expected to be completed by August.

Singapore’s agribusiness company Wilmar International has returned to the loan market for a borrowing of up to $1bn.

Southeast Asian tech company Grab, which offers everything from ride hailing and food delivery services to digital wallet payments, is planning to go public on the Nasdaq by merging with Altimeter Group Corp, a special purpose acquisition company (Spac).

Vingroup Joint Stock Company raised $500m from an exchangeable bond this week, selling the largest equity-linked transaction from Vietnam — and developing the market by using novel structural features never seen before in the country. Rashmi Kumar reports.