Asean

Indonesia's Tower Bersama Infrastructure used its recent rating upgrade to entice investors to its $300m bond on Wednesday. Price discovery was not easy but the telecommunication tower provider’s improving business profile appealed to the market.

Singapore Airlines made its debut in the dollar bond market on Wednesday, raising funds for new aircraft purchase as the travel industry prepares for a rebound in the near future.

Singapore-listed palm oil company First Resources is tapping the loan market for a $150m-equivalent dual-currency deal.

Senior ING banker Herry Cho is moving to the Singapore Exchange to take on a newly created position as head of sustainability and sustainable finance.

Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.

Vingroup Joint Stock Co has launched an up to $400m loan to the market.

Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time in the past three months as a result of refinancing pressure.

Thai conglomerate Charoen Pokphand Group will likely tap both the bond and loan markets to take out a bridge facility raised last year for the acquisition of retail giant Tesco’s Asia business.

Indonesian chicken producer Widodo Makmur Unggas is aiming to raise up to Rph1.18tr ($84m) from the country’s largest IPO in over a year.

UBS has appointed Axel Granger as head of M&A and head of financial sponsors for southeast Asia, a newly created position at the bank.

Singaporean ride-hailing company Grab Holdings has added a dash of excitement to the loan market with plans to raise $750m from a new outing. Pan Yue reports.

The Republic of Indonesia kicked off its 2021 bond issuance this week with a $3bn deal in dollars, split across 10 year, 30 year and 50 year notes, as well as a €1bn tranche.