Southeast Asia

Recent developments may help push the risk of cyber attacks onto the capital markets through catastrophe bonds and other insurance-linked securities (ILS). But investors are likely to be wary about taking on too much exposure.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Philippine conglomerate San Miguel Corp raised Ps34.1bn ($634.2m) on Thursday after selling shares in subsidiary San Miguel Food and Beverage at the bottom of the price guidance.

Indonesia’s Pertamina has withdrawn a cash tender offer for its 2021 and 2022 notes and will not be selling a new bond at this time due to unfavourable market conditions.

Singapore’s Reit issuers are proving a resilient lot when it comes to fundraising in the equity markets, with the latest deal from Capitaland Mall Trust taking this year’s tally to $2.3bn.

Philippines’ Metrobank Card Corp is tapping the syndicated loan market for a $100m borrowing.

The response to a refinancing loan for KKR-owned MMI International, a hard disk drive developer, has disappointed amid concerns around a Chinese consortium’s planned acquisition of the Singapore-based firm. What lies ahead for the borrower? Pan Yue finds out.

Kelvin Lim has returned to DBS as an executive director in the syndicated finance team after 11 years with Citi.

Malaysia’s Tenaga Nasional Berhad (TNB) raised $750m from a Wakala sukuk sale on Tuesday, navigating market worries by using a targeted approach for its deal.

The recent resurgence in Thai IPOs is reassuring amid the volatility roiling many emerging markets. But the success of the listings from Thailand Future Fund and Osotspa is far from a reflection of a booming ECM market in the country.

The International Finance Corp (IFC) has committed $150m to a green bond issued by China Banking Corp, supporting the Philippines’ efforts in fighting climate change.

Thailand Future Fund took full advantage of a wealth of domestic demand for its IPO, pricing the Bt44.7bn ($1.37bn) transaction at the top of expectations, according to a banker on the deal.