Southeast Asia

Export-Import Bank of Thailand is meeting investors this week ahead of a new dollar bond transaction, its first in nearly eight years.

The UK’s Lloyds Banking Group is readying a subordinated tier two bond, to be issued in Singapore dollars.

Commodities trader Trafigura sold a Rmb500m ($78.9m) three year Panda bond through a private placement on April 26, marking the issuer’s first feat in China. The company said it hopes to become a regular issuer in the Panda market.

Indonesian property company Bumi Serpong Damai returned to the debt market on Monday for a quick $50m tap to its $250m 7.25% 2021 bond that was sold last week.

CTBC Financial Holding has hired veteran banker Benson Chua as head of corporate and institutional banking.

Real estate developer Vinhomes has launched bookbuilding for its D31.8tr ($1.4bn) listing, set to be Vietnam’s largest equity offering to date.

Indonesia’s Wijaya Karya Realty is building books until mid-next week for an IPO of as much as Rph3.2tr ($230m).

Indonesian company Surya Pertiwi has raked in Rph1.25tr ($90m) after pricing its IPO at the bottom of the range, according to a banker close to the deal.

The Singapore equity capital market was hit by some unpleasant news this week when a pair of IPOs were shelved in quick succession. The move drew mixed responses from bankers, with one saying it highlights the city’s dwindling appeal as a listings hub, and others promising a busy year ahead for equity raising. John Loh reports.

The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.

Techcombank priced Vietnam’s largest ever IPO this week at the top of guidance, raising D21tr ($922m).

Mapletree Greater China Commercial Trust Management has raised S$330.3m ($248.8m) after selling a block of new units to help fund the purchase of Japanese assets.