Asean

Charoen Pokphand Group has invited banks to join a $7.5bn dual-currency loan in senior syndication. The deal will support the Thai conglomerate’s acquisition of Tesco’s Asia business.

Standard Chartered is forming a new financing and securities services unit that will combine securities services, which currently operates within transaction banking, with portfolio risk management in the financial markets business.

Singapore’s flag carrier is planning to raise S$8.8bn ($6.16bn) from a concurrent rights issue and sale of convertible bonds to help stem crippling losses driven by the Covid-19 coronavirus.

Dai Quang Minh Corp, the real estate arm of Vietnamese carmaker Truong Hai Auto Corp, has opened a $130m loan into general syndication.

Cambodia’s Acleda Bank has set the share price for its IPO after two roadshows events, but has extended the subscription period to accommodate the government’s coronavirus containment measures.

Cambodia’s Prasac Microfinance Institution has returned to the loan market for a $75m deal amid an ownership change.

The Philippine Stock Exchange suspended all trading on Tuesday, after the country’s president announced stricter coronavirus quarantine measures for Luzon, the northern island home to the capital Manila.

Malaysia’s Press Metal Aluminium has raised a $300m dual-tranche financing to support its acquisition of Bintan Alumina Indonesia (BAI).

Banks have submitted their proposals to Malaysian telecommunications company Axiata Group, which is seeking $800m from the loan market for refinancing.

Singapore hard disk drive company MMI International is looking to amend and extend an old loan ahead of a looming maturity, as it faces pressure on its financials.

CPN Retail Growth Leasehold Reit dived 20% in Friday morning trading after the Thai company deferred an equity fundraising exercise due to volatility in the market.

Thai conglomerate Charoen Pokphand Group’s $10.6bn purchase of Tesco’s Asia business has been hailed as a “landmark” deal that will liven up the region’s loan market. Bankers are now openly debating how they can get in on a financing that will tap both international and domestic liquidity. Pan Yue reports.