Asean

JP Morgan has picked two of its own staff to fill newly-created posts as co-heads of investment banking across the Asean region.

OCBC Group plans to hire more than 3,000 people in Singapore this year.

The strong response from banks to Charoen Pokphand Group’s acquisition-related loan is not a true reflection of conditions in Asia’s syndications market — despite what some may say.

Indofood CBP Sukses Makmur is putting together a shortlist of banks for its $2bn loan, which will fund its acquisition of instant noodle maker Pinehill Co.

Thai Oil Public Co managed to raise $1bn from a dual-tranche bond by the ‘skin of its teeth’ on Thursday, tightening price guidance twice during bookbuilding to find the right groups of investors.

International Container Terminal Services (ICTSI) raised $400m in the international bond market on Wednesday despite the Covid-19 pandemic challenging the Philippine issuer’s transaction.

Sembcorp Marine is looking to tap shareholders for S$2.1bn ($1.5bn) from a rights issue to help repay debt held by a subsidiary.

Cambodia’s Prasac Microfinance Institution has increased its latest offshore borrowing to $95m after attracting eight participants during syndication.

Thailand’s PTT Exploration and Production Public Co (PTTEP) found strong support for its $500m seven year bond on Thursday, despite an aggressive price tightening during bookbuilding.

Taiwan-based Chailese Finance Co is seeking a new loan of $50m through its Vietnamese subsidiary. The deal comes about a month after the leasing and financing company launched another transaction through its Singapore entity.

Indonesian mobile phone seller Tiphone Mobile Indonesia is restructuring its debt after failing to make payments on a loan, adding to a growing list of stressed businesses in the country. But what is worrying bankers more than the default itself is the lack of transparency from the borrower, writes Pan Yue.

Singapore Telecommunications (Singtel) raised $750m on Wednesday from its annual bond outing.