Asean

Goldman Sachs has announced a deal called Magenta CMBS to finance Thai conglomerate DTGO Corporation’s purchase of 17 regional hotels across the UK from Marathon Asset Management. The deal is the first CMBS linked to Sonia, with the commercial real estate market proving slower than consumer assets classes to switch from Libor.

Trans Retail Indonesia, also known as Carrefour Indonesia, has launched a dual-currency deal into general syndication, opting for a slightly different approach to paying participation fees to lenders.

The Inter-American Development Bank has sold its first Indonesian rupiah sustainable development bond, making it the seventh currency in which it has raised this kind of funding.

Ayala Land, one of the Philippines’ largest property owners, has filed an IPO application for a real estate investment trust (Reit), the country’s first public offer of the asset class.

PetroVietnam Gas (PV Gas) is in talks with banks about its syndication plan for a nine year loan.

Thailand’s Central Retail Corp has priced the country’s largest IPO near the top of the marketed range, netting Bt71bn ($2.3bn) by navigating a volatile stock market.

Malaysia’s capital markets regulator is looking to position the country as the regional hub for sustainable and responsible investment, launching a new initiative to help corporations meet the United Nations’ sustainable development goals.

The International Fund for Agricultural Development, the Government of Cambodia and the European Investment Bank have launched a $124.5m rural development project to boost income and food security in the southeast Asian country.

Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is making its second attempt to raise a syndicated loan, after pulling a deal in 2017. It is one of several Vietnamese borrowers now planning a debut in the international market, reports Pan Yue.

The Republic of the Philippines hit the market with a pair of euro benchmark bonds on Tuesday, making a rapid comeback to the currency.

Shangri-La Asia raised S$250m ($185.3) from the Singapore dollar bond market on Tuesday, after seeing an opportunity for unrated issuers in the city.