Asean

Ilfryn Carstairs, global chief investment officer at alternative investor Värde Partners, will become co-CEO from next year, while keeping his co-CIO title.

Prime US real estate investment trust has bagged S$829.7m ($611.6m) from its Singapore IPO, becoming the third pure US property Reit to list in the city-state this year.

A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.

Malaysian sovereign wealth fund Khazanah Nasional has managed to raise $500m from a tightly priced zero coupon exchangeable bond.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank), a private sector lender, raised $300m from its international bond debut this week. The deal was helped by the scarcity of supply from Vietnam, but finding the right price proved a challenge for those on and off the deal.

Indonesian state-owned Perusahaan Listrik Negara (PLN) sold $1.4bn of bonds this week, split equally between 10 year and 30 year tranches, pricing both slightly inside fair value.

Vietnamese property developer Novaland Investment Joint Stock Co is making its loan market debut with a $250m facility.

Thai natural rubber company Sri Trang Agro Industry approved a spin-off of its gloves production unit at a board of directors meeting this week.

CapitaLand has raised a sustainability-linked facility of S$150m ($110m) with Crédit Agricole, just nine months after closing a larger deal with DBS.

Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.

Louis Dreyfus Asia has priced its $500m three year revolving credit facility at the same level as its last loan from 2018.

Indonesian power company PLN is set to launch a $1bn loan into syndication this week, after hiring a group of 10 banks to run the deal.