Asean

Philippine carrier Cebu Air is looking to tap the equity markets for $500m, in an attempt to position itself for a recovery from the impact of the Covid-19 pandemic.

Singapore-incorporated global energy business Puma Energy has pulled a planned dollar bond that was set to refinance an existing loan. The company attributed it to a lack of conducive market conditions, though investors say the issuer's credit story was unconvincing.

Indonesia’s Star Energy Geothermal found solid investor demand for Asia’s first dollar-denominated project bond of the year. The deal was helped by the issuer’s investment grade rating and a green label that helped reduce pricing. Morgan Davis reports.

Export-Import Bank of Thailand priced its $350m bond inside fair value on Tuesday, riding on its scarcity value in the international market, as well as a reasonably slow week for deal flow in Asia.

Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years.

International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.

Philippines-based internet services provider Converge ICT Solutions has kicked off the roadshow for its up to Ps28.6bn ($590.4m) IPO, set to be the country’s largest ever public offering.

Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.

Singapore’s DBS Bank ventured into the Kangaroo market on Wednesday in search of tier two debt. Though Australian dollar tier two volumes have remained stable year on year, there is a marked decline in offshore issuance so far in 2020.

Lippo Malls Indonesia Retail Trust is in discussions with banks for a S$120m ($87m) loan that will support its acquisition of shopping malls in Indonesia.

Singaporean sovereign wealth fund Temasek made a successful return to the dollar bond market on Tuesday, raising $2.75bn from 10 year, 30.5 year and 50 year bonds.

Frasers Centrepoint Trust, a real estate investment trust (Reit), raised S$575m ($419.1m) on Monday evening from a sale of new units.