Asean

Sustainability-linked bonds conquered a new investor base this week, as the instrument spreads rapidly around the world. Surbana Jurong, an architecture and engineering consultancy indirectly owned by the Singapore government, brought the first such instrument to the Singapore dollar market, where it aroused keen interest.

Thailand’s PTT Oil and Retail Business scooped up Bt54bn ($1.79bn) this week from the country’s largest IPO in a year. The deal was a hit with both domestic and foreign investors — but in a somewhat unusual twist, the issuer cut the entire international public book during allocation. Jonathan Breen reports.

Indonesian state-owned oil and gas company Pertamina raised $1.9bn from a two-tranche deal on Wednesday.

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

The march of sustainability-linked bonds continued on Wednesday, as Surbana Jurong, the architecture and engineering consultancy that has built more than 1m homes in Singapore, launched the first such deal in Singapore dollars and one of the first in Asia. It also comes from a new sector.

Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.

Indonesia’s Adaro Energy has sent out a request for proposals for a $400m loan to meet its refinancing needs.

JP Morgan’s head of southeast Asia equity capital markets has resigned, according to a source familiar with the matter.

The Singapore Exchange has sold a €240m zero coupon convertible bond, its debut equity-linked issue and the first CB from a stock exchange globally in eight years.

Singapore’s ride hailing start-up Grab Holding has further increased the size of its term loan B to $2bn following solid traction in the US market.

Casino operator Genting New York priced a $525m bond on Wednesday.

The Lao People's Democratic Republic has postponed its dollar bond sale for the second time in as many months, this time to provide investors with more information.