Asean

Singapore hard disk drive company MMI International has sent out extension requests to lenders on a $580m loan, as it struggles to make the outstanding payment on time.

Charoen Pokphand Group has launched a $7.15bn-equivalent loan into general syndication after attracting five banks at the senior level.

Indonesian palm oil producer Perkebunan Nusantara III (PTPN) is seeking consent from banks to delay payments on a dollar loan, given expectations of a hit to its business because of the Covid-19 pandemic. But bankers told GlobalCapital Asia this week that the state-owned company has enough cash to make the payments, with the syndicate team set to reject its deferral request. Pan Yue reports.

Deutsche Bank has hired Kamran Khan to head its environmental, social and governance efforts in Asia Pacific.

Mining company Indonesia Asahan Aluminium (Inalum) battled weakening fundamentals and financial troubles at its state-owned peers to raise $2.5bn from a triple-tranche bond on Monday.

Malaysian telecommunications company Axiata has raised $800m from an Islamic sustainability-linked loan.

Indofood CBP Sukses Makmur has sent out a request for proposals for a loan to back its acquisition of instant noodle maker Pinehill Company.

AAA Oils and Fats, the trading subsidiary of Singapore-based palm oil processor and distributor Apical Group, has returned to the offshore loan market for a $900m refinancing.

Bank Mandiri has continued the flow of Indonesian dollar bonds in the primary market, raising $500m on Tuesday with just a small 5bp new issue premium.

Cambodian micro finance company Amret has closed its debut loan after attracting six participants during syndication.

Indonesian quasi-sovereign construction firm Hutama Karya launched its first dollar bond on Monday, raising $600m from a 10 year deal despite the Covid-19 pandemic challenging the market.

United Overseas Bank has approved S$4bn ($2.8bn) in loans to mid-sized enterprises in Singapore, taking advantage of a temporary bridging loan programme launched by the country’s government to cushion the impact of the Covid-19 pandemic on companies.