Asia Pacific

Indian banks are muscling into offshore loan syndications they previously rejected out of hand, driven by a desperate need to lend amid a slowdown in domestic borrowing. Shruti Chaturvedi reports.

Saka Energi Indonesia, the upstream oil and gas arm of state-owned Perusahaan Gas Negara, is back in the loan market for a $200m-$300m deal with a bigger top group when compared with its previous borrowing.

Equity issuance in Asia is up nearly 20% this year, buoyed by a surge in block trades and rising share prices. As 2017 passes the halfway mark with what some believe to be the best conditions for the primary equity market in years — as well as a crowded pipeline — bankers are looking to make the most of the second half. John Loh reports.

Chinese biopharmaceutical firm 3SBio has taken a step towards boosting its presence in Europe by printing its debut convertible bond, raising €300m in a rare appearance in the currency from an Asian issuer.

Greentown China Holdings made a rare visit to the debt market, selling a senior perpetual bond on Tuesday. The transaction saw blow-out demand of about $6bn for the $450m deal, allowing the leads to slice pricing by 37.5bp from initial guidance.

CJ CheilJedang Corp sold all of its stake in Samsung Life Insurance Co through an overnight block this week, raising W357.7bn ($314.2m) after the bookrunners managed to move investors up to the middle of the price range.

As the mythical summer lull approaches the Asian market, bankers are naturally planning their getaways. But for a lucky few, workdays can often look like holidays in all but name.

StanChart loses loans ED — UBS rejigs China equities team — Credit Suisse names Philippines country manager — BNPP appoints new China chief executive

Indonesian consumer lender BFI Finance is preparing to launch a loan of about $100m into general syndication, after mandating three banks as leads.

Thai property developer Singha Estate raised $229m on Wednesday from its first visit to the equity capital market, tapping international and domestic investors with a convertible bond and share placement combo.

China National Chemical Corp has priced a Reg S-only $3bn triple-tranche deal, hitting its targeted size while paying minimum new issue premium. Peak demand was $15.5bn across the board, thanks to an attractive initial price guidance and the company’s strong credentials.

Thailand’s PTT Exploration and Production (PTTEP) raised $500m from its new perpetual non-call five bond on Wednesday, while simultaneously conducting a buyback of its existing notes.