Southeast Asia

Singapore-based agriculture company Olam International has returned to the loan market for its annual refinancing.

Agricultural Bank of China’s Singapore branch has sold the tightest three year floating rate note (FRN) from a big four Chinese bank, adding $500m to its coffers.

Lendlease Global Commercial Real Estate Investment Trust has hit the road for its Singapore IPO as it seeks up to S$740.3m ($537.9m), according to a source close to the deal.

HSBC has named Philip Lee as vice-chairman, southeast Asia, for its global banking franchise. The position is a newly-created one as the bank seeks to beef up its presence in the region.

CIMB Group has rejigged its top management team across multiple divisions and hired a new chief executive officer for its Islamic banking operation.

Keppel DC Real Estate Investment Trust has launched a one-day sale of new units to raise up to S$235.4m ($171.3m) to fund the purchase of two Singapore properties.

Defaults have ripped through Delta Merlin Dunia Textile (DMDT), another subsidiary of Indonesian textile company Duniatex, which missed its first dollar bond coupon last week and recently delayed payments on a loan.

Indonesian state-owned power company PLN has diversified its funding sources. It debuted in the Samurai market, raising ¥23.2bn ($215m) from three bonds while paying a small premium over its outstanding dollar curve.

AllHome Corp has gone live with its IPO in the Philippines, as it works with a five-strong syndicate to raise up to Ps15.8bn ($304.2m) from a mixed primary and secondary share offering.

Myanmar has made a raft of regulatory changes to attract foreign investment, removing ownership limits and cutting red tape. But senior figures in the country admit that poor infrastructure is a major problem — and the solution requires private capital. Morgan Davis reports.

Thai real estate owner and developer Asset World Corp has hit the market with a Bt41.7bn ($1.36bn) IPO, set to be the country’s largest listing by a private company, according to a term sheet seen by GlobalCapital Asia.

Furniture maker Samson Holding has closed a $120m club loan with three banks to support the construction of a new factory in Vietnam