Southeast Asia

Asia’s IPO market burst into life this month, with issuers in Hong Kong, South Korea, Singapore and the Philippines testing investor appetite for their listings. While the resurgence is welcome after a bleak year for issuance so far, it is likely to be short lived, with a lot also resting on early movers’ performances.

Indorama Ventures Public Co sold its first dollar bond on Thursday. While unrated, the company’s rarity value appealed with investors.

Credit Suisse has brought in Mark Uy to lead coverage of investment banking and capital markets in the Philippines, according to a source familiar with the matter.

Investors were given a double dose of green paper from the Philippines this week, as Rizal Commercial Banking Corp (RCBC) rolled out a $300m sustainability bond a day after Bank of the Philippine Islands (BPI) sealed a green deal.

AllHome Corp has begun pre-deal investor education for its IPO in the Philippines. The firm is targeting as much as Ps20.7bn ($398.8m).

ANZ has made some changes to its infrastructure financing team in Asia, relocating Gareth Coleman to Singapore from Cambodia.

Investors flocked to Bank of the Philippine Islands’ $300m green bond on Tuesday, snapping up the rare deal from a bank in the southeast Asian country.

BOC Aviation and Clifford Capital navigated choppy market conditions successfully on Tuesday to raise dollar bonds from investors.

Singapore-listed real estate company City Developments has raised a S$250m ($180m) loan to promote the United Nations’ Sustainable Development Goals (SDGs) through innovation. The company said it is the first deal of its kind.

James Gifford, who was founding executive director of the UN Principles for Responsible Investing, has joined Credit Suisse in the newly formed position of head of impact advisory.

Agricultural Bank of China Singapore branch has raised a $200m green loan from seven banks, following in the footsteps of peer ICBC London, which signed a mandate letter for a green loan three months ago.

Lendlease Global Commercial Real Estate Investment Trust, a Singapore Reit sponsored by its Australian parent Lendlease, started sounding out investors for its IPO on Monday.