Asean

DCM bankers in Asia have used a quiet August to prepare new bond deals for next month. But despite most bankers’ optimism that the coming weeks will be busy, many believe the second half of 2019 will be quiet compared with the same time last year as the market gets battered by volatility. Morgan Davis reports.

Louis Dreyfus Asia has boosted the size of its annual borrowing to $650m from $500m after receiving commitments from 31 lenders.

Freeport Indonesia, a mining company that was acquired by Asahan Aluminium (Inalum) last year, is in talks with 10 banks for a $3bn term loan for its capital expenditure.

Yanlord Land Group offered a welcome bit of supply in Asia’s otherwise tepid bond market this week, breaking the silence to raise $400m from just its third dollar deal in eight years.

Singapore Telecommunications (Singtel) enjoyed a rare outing in the dollar bond market on Tuesday, nabbing $750m. Morgan Davis reports.

The Philippines’ Securities and Exchange Commission has given the greenlight to homeware store chain AllHome Corp to list on the local bourse for up to Ps20.7bn ($394.7m).

Thailand’s largest block trade in six years has seen Singaporean state-owned investment fund Temasek Holdings bagging more than $500m from a sale of Intouch Holdings stock. The vendor took advantage of a surge in the Intouch’s stock price and plans to return and clean up its remaining stake. Jonathan Breen reports.

Indonesian state owned pharmaceutical company Kimia Farma is planning to raise capital through a rights issue of new shares, according to a stock exchange filing.

Syndicated loans banker Marilyn Fung has joined Standard Chartered’s loan syndication team in Singapore.

Vietnam’s Mong Duong Finance has launched a $484.71m borrowing into general syndication, in tandem with a bond it issued at beginning of the month.

Vietnamese conglomerate Vingroup is planning a return to the offshore debt market to raise up to $750m from international bonds.

Asia Pacific Resources International Holdings (April), a subsidiary of Royal Golden Eagle, has made a quick return to the loan market for a self-arranged borrowing of up to $1bn.