Southeast Asia

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has closed its maiden borrowing at a bigger size of $500m, after receiving strong response during syndication.

Khazanah Nasional's sell-down in Malaysian electricity company, Tenaga Nasional, and Serba Dinamik Holdings' primary share placement both received a big thumbs-up from investors on Thursday, allowing them to boost the deal sizes.

Malaysian sovereign wealth fund Khazanah Nasional is in the market to offload a chunk of Tenaga Nasional shares. It is looking to raise up to MR910.2m ($208.8m) from the block.

Asia’s bond market set a blistering pace this week, with nearly $4.2bn of deals sold through Wednesday and one of the busiest days since the global spread of the coronavirus. But although the successful deals are a sign that market sentiment is improving, bankers are cautious about what is yet to come. Morgan Davis reports.

Singapore Airlines has announced the record date for its planned S$8.8bn ($6.17bn) concurrent rights issue and mandatory convertible bonds sale.

Sino Biopharmaceutical’s shares tumbled about 8% on Tuesday after its chief executive officer, Tse Ping, sold a portion of his stake in the company for HK$2.27bn ($292.9m).

Petroliam Nasional (Petronas) stunned the bond market this week with a $6bn deal that received $37bn of orders at its peak. The Malaysian oil and gas company had to navigate volatile oil prices, a ratings outlook change and the Covid-19 pandemic, writes Morgan Davis.

The Malaysian and Shenzhen stock exchanges have entered into a memorandum of understanding to boost cross-border investment opportunities and collaboration, according to a statement on Wednesday.

The Inter-American Development Bank (IADB) tapped the Indonesian rupiah market for its latest Covid-19 response bond this week, becoming the first SSA to print a response bond in an emerging market currency.

Malaysian oil and gas company Petroliam Nasional (Petronas) made its mark on the dollar bond market on Tuesday, raising $6bn from a deal that received orders of $37bn at its peak. This was despite a ratings outlook change to negative this week and headwinds from the Covid-19 pandemic and volatile oil prices.

Singapore’s CapitaLand, a real estate giant, has raised a total of S$400m ($283m) from two bilateral green loans, giving a further boost to its sustainability financing credentials.

Malaysia's Petroliam Nasional and China's Lenovo Group set the stage for new dollar deals on Tuesday, taking advantage of a rally in Asian bonds and improved investor sentiment despite the growing impact of the Covid-19 coronavirus.