Asean

Malaysian energy services group Serba Dinamik International faced an uphill battle on Thursday when it courted investors for a new bond.

Vietnamese car manufacturer Truong Hai Auto Corp has closed its debut offshore borrowing, increasing the size of the loan to $210m.

BRI Multifinance Indonesia (BRI Finance) is tapping the offshore loan market for an up to $100m borrowing.

M&G Investments, a London-based investment manager, has appointed Matthew O’Sullivan as head of Asia Pacific origination to expand its operations in the region.

UBS has reorganised the senior management team of its global banking business in Asia Pacific, less than three months after revamping its investment banking unit globally.

Acleda Bank, Cambodia’s largest bank by total assets, has got the greenlight from the country’s central bank to hold a public offering.

Thai Beverage is planning to spin off and list its brewery business in a deal that could raise up to $2.5bn, according to a source familiar with the matter.

Philippine brandy making company Emperador has closed a €405m borrowing with 13 lenders in the syndicate.

The Asian Infrastructure Investment Bank (AIIB) and Singapore’s Clifford Capital have launched a new infrastructure debt financing platform that will remove some of the pressure on banks financing projects. It will also position Singapore as the leader in a sector that desperately needs private funds, writes Morgan Davis.

Thailand’s state-owned PTT Exploration and Production Public Co ended a two-year hiatus from the offshore bond market this week with a $650m deal, taking advantage of the low rate environment to extend its maturity profile to 40 years.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

The World Bank has issued the first catastrophe bond to be sponsored by an Asian government, and the first to be listed on the Singapore Exchange. The Philippines will receive protection against damage caused by earthquakes and cyclones, writes Jasper Cox.