Southeast Asia

CPN Retail Growth Leasehold Reit dived 20% in Friday morning trading after the Thai company deferred an equity fundraising exercise due to volatility in the market.

Thai conglomerate Charoen Pokphand Group’s $10.6bn purchase of Tesco’s Asia business has been hailed as a “landmark” deal that will liven up the region’s loan market. Bankers are now openly debating how they can get in on a financing that will tap both international and domestic liquidity. Pan Yue reports.

The European Union is set to make at least €25bn of budget funding available for sectors affected by the Covid-19 coronavirus, as its institutions join forces to tackle the economic impact of the outbreak. Rules on state aid and public finance will also be loosened, giving member states more room to launch fiscal stimulus measures.

CIMB Group Holdings and CIMB Bank chief executive Zafrul Aziz has been named Malaysia's new finance minister, amid tumultuous political change in the country.

Indonesia's OCBC NISP raised Rph2.75tr ($191m) from International Finance Corp through privately-placed sustainable bond transactions, split between a gender bond and a green bond.

Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.

The Yangon Stock Exchange will be open for trading by international investors from March 20, according to an announcement by Myanmar’s securities regulator.

Acleda Bank has kicked off bookbuilding for a Riel380.7bn ($94.4m) IPO, set to be the first on the stock exchange in almost three years.

The World Bank and Assicurazioni Generali are each giving the insurance-linked securities (ILS) they issue a sustainability label, as the market attempts to burnish its credentials for investors concerned with environmental, social and governance (ESG) criteria. Both issuers are imitating conventional green bond programmes by focusing on direct use of proceeds, but there are also debates around issues such as freed-up insurance capital and what governments do with funds released from catastrophe bonds.

Logistics conglomerate Ever Flow River Group (EFR) has won approval from the Yangon Stock Exchange to join its sparsely populated board.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

United Hampshire US Real Estate Investment Trust (Reit) has wrapped up the international roadshow for its $323.6m Singapore IPO, boosted by investors' search for stability amid volatile markets.