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Emerging Markets

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  • Thai rubber glove maker Sri Trang Gloves is set to raise Bt14.9bn ($481.4m) from its IPO, capitalising on a surge in demand for its products caused by Covid-19.
  • MicroPort Scientific Corp raised HK$1.55bn ($200m) on Monday after selling a chunk of new stock.
  • Banks have shown quick interest in a new $500m loan from Indonesia’s Sarana Multi Infrastruktur (SMI), which is wooing lenders with a short tenor deal.
  • Electricity company Perusahaan Listrik Negara (PLN) rode on the coattails of the Indonesian sovereign’s dollar bond sale to raise $1.5bn this week.
  • Thai hospitality company Minor International (Mint) used a guarantee from Bangkok Bank to issue a $300m bond this week. The deal structure, which echoes its 2018 debut bond, helped quell investor concerns about how Covid-19 has ravaged the borrower’s business. Morgan Davis reports.
  • Qatar National Bank snapped up Rmb1.2bn ($170m) from a quick Formosa bond outing on Monday. Just a day after, the People’s Bank of China wrapped up one of its routine dim sum transactions.