Asean

Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have launched a $500m loan into general syndication, after one bank joined at the senior stage.

Philippine conglomerate San Miguel Corp has launched its $1.75bn loan into general syndication, after one bank joined as a mandated lead arranger and bookrunner during the senior phase.

China Construction Bank’s Singapore branch joined the offshore renminbi bond issuance party on Monday with a Rmb1bn ($142m) two year deal.

An undisclosed institutional investor in Malaysia’s MISC Berhad has raised MR565.6m ($136m) by selling some of its shares in the shipping company, giving buyers an extremely rare opportunity to gain exposure to it.

Adira Dinamika Multi Finance, an Indonesian motor vehicle financier, is making a quick return to loans, seeking its second offshore borrowing this year.

One of the more fascinating transactions to reach the Schuldschein market in the past few months is from the European arm of Singapore-listed real estate investment trust (Reit) Cromwell. The transaction’s closing date was postponed by more than a month, as many away from the deal claimed the deal was struggling to find traction. But bankers close to the situation were quick to assure that it was still on track and investors just needed more time to analyse the credit.

Rising power demand in Indonesia pushed state-owned Perusahaan Listrik Negara (PLN) to make a rapid return to the dollar bond market this week.

Indonesian power company Perusahaan Listrik Negara has closed its $1bn five year loan, attracting eight participants during syndication.

Philippine company SMC Global Power Holdings Corp has priced its second senior perpetual bond of the year, raising $500m from a four times covered deal at a yield that met the issuer’s target.

Siam Cement Group has set in motion a plan to list its packaging subsidiary, according to a filing with the Stock Exchange of Thailand.

Vietnamese borrowers have kept loans bankers busy amid a broader slowdown in the syndication market. But the welcome they have received so far from lenders may cool down faster than expected.

Thailand-based S Hotels and Resorts has priced its IPO near the bottom end of the marketed range, raising Bt7.5bn ($247.9m).