Southeast Asia

US-listed AMTD International floated on the Singapore Exchange this week, debuting dual-class shares on the southeast Asian bourse through a secondary offering.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has brought in 21 banks for its debut borrowing in the loan market.

Singapore has imposed a month-long lockdown after a spike in coronavirus cases. Bankers say they were ready for the move — but deal flow will suffer. Rashmi Kumar reports.

Two Indonesian state-owned firms are planning $1bn loans, returning to the market despite a sharp rise in volatility as funding markets react to Covid-19. Bankers told GlobalCapital Asia that borrowers may need to scale back their ambitions. Pan Yue reports.

The Republic of Indonesia raised $4.3bn from a triple-tranche bond this week, making quick progress in its effort to fund a fiscal stimulus package that it hopes will soften the damage of the Covid-19 pandemic. Morgan Davis reports.

Nomura has hired a new head of investment banking for Southeast Asia.

The Republic of Indonesia turned to the bond market on Monday to fund its Covid-19 relief efforts, raising $4.3bn from a triple-tranche deal. Investor demand for long-dated tenors encouraged the country to offer a 50 year note as part of the trade, making it a first for Asian sovereigns.

Bank Rakyat Indonesia is planning a return to the offshore loan market. It is inviting banks to bid for a new deal.

The Republic of Indonesia announced a triple-tranche bond sale on Monday morning, starting the week in Asia on a positive note. Bankers are watching investors’ response to the deal closely as more issuers line up new transactions.

Indonesian power company Perusahaan Listrik Negara has sent out a request for proposals (RFP) to a large group of banks, aiming to raise a new offshore loan despite the impact of the coronavirus on bank demand.

Thailand’s state-owned oil and gas conglomerate PTT is moving forward with the IPO of its subsidiary PTT Oil and Retail Business.

Rising dollar funding costs for Taiwanese banks have made them push an existing borrower back to the negotiating table so that they can demand better returns on a loan. More worrying than the triggering of the market disruption clause, however, is the volatility that forced the move.