Southeast Asia

Three MBA students from Singapore Management University have won Morgan Stanley’s annual Sustainable Investing Challenge with a scheme that addresses one of the areas of sustainable financing that is least advanced: adaptation to climate change.

Pelabuhan Indonesia III, also known as Pelindo III, raised $500m from a single tranche five year bond on Tuesday after scrapping a 10 year portion that was also marketed.

Central China Real Estate was back in the offshore debt market on Tuesday with a Singapore dollar deal, just a week after sealing a US dollar bond.

A repricing in the Indonesian high yield dollar bond market on Monday took a toll on property company Bumi Serpong Damai (BSD), which had to navigate numerous hurdles to push a $250m deal over the finish line.

Summit Power International’s hopes to be the first Bangladeshi issuer to list in Singapore have fizzled out after its $260m IPO was withdrawn.

Vietnamese real estate developer No Va Land Investment Group pulled off the combined sale of a convertible bond and top-up share placement last week. The success of the hybrid fundraising structure means other potential issuers in the region should give it a close look.

Cambodia’s Prasac Microfinance Institution has launched a $50m three year term loan with a $50m greenshoe option into syndication.

Sarimelati Kencana has started bookbuilding for a Rph1.2tr ($90.2m) IPO in Indonesia, with the Pizza Hut owner seeking a valuation of as much as 26 times earnings.

MUFG Bank has appointed Janice Chua as managing director and head of the Asian operations division, according to a Monday press release.

BOC Aviation, Metallurgical Corporation of China (MCC) and Bumi Serpong Damai were the first out of the gates on Monday morning with their new bond deals, as the Asian debt market prepares for an onslaught of supply.

Hyosung Vina Chemicals, a Vietnam-based business unit under South Korean conglomerate Hyosung, is raising a $1bn loan from both Korean and international lenders.

Vietnam’s Nghi Son 2 Power, which counts Japanese trading and investment conglomerate Marubeni Corp as one of its investors, has raised a $1.869bn project loan from a group of mainly Japanese lenders.