Asean

Temasek Holdings-backed Fullerton India Credit Company has invited banks to join a $250m debut borrowing.

As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.

Indonesian state-owned energy company Pertamina proved to the dollar bond market that quality credits can win over investors during turbulent times, as it navigated secondary market volatility this week to rake in $1.5bn from a chunky $10bn book. Morgan Davis reports.

Frasers Property (Thailand) has raised Bt3.26bn ($105.8m) after selling a chunk of new stock, pricing the block at the top of guidance.

Indonesian energy company Pertamina snagged $1.5bn from a dual-tranche bond sale, shaking off concerns about the struggling bond market in the country and proving that quality credits can still get deals done.

ANZ has named Vishnu Shahaney as the new head of Southeast Asia, India and Middle East, and the country head for Singapore.

Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent to test the market’s appetite for the deal.

Concerns around some Indonesian and Chinese credits, including Delta Merlin Dunia Textile and China Minsheng Investment Group, have put a dent in investor sentiment in Asia with bonds underperforming in the secondary market.

Thailand’s Jasmine Broadband Internet Infrastructure Fund is planning to raise up to Bt38bn ($1.2bn) through a rights issue.

Indonesian power company Perusahaan Listrik Negara (PLN) has launched a $1bn five year deal into syndication, with bank meetings set to kick off at the end of the month.

A subsidiary of Indonesian textile company Duniatex missed an interest payment on a $260m syndicated loan last week, causing the bond price of its sister company to collapse and bankers to wonder about the wider health of the sector. Pan Yue reports.

Singapore-listed real estate company CapitaLand Commercial Trust has raised S$220m ($162m) from a private placement to fund an acquisition in Germany.