Southeast Asia

Luye Medical, the healthcare services arm of Luye Life Sciences Group, has enlisted three banks to lead its IPO of about $500m in Singapore.

The Tropical Landscapes Finance Facility (TLFF) secured $95m from Asia’s first corporate sustainability bond on Monday.

Bangladeshi independent power producer (IPP) Summit Power has launched investor education ahead of its ground-breaking Singapore IPO, according to a banker close to the deal.

The Republic of Indonesia’s maiden green sukuk last week was a landmark for green finance, becoming the first green sovereign issue in Asia, and one of just a handful globally. Indonesia deserves to be lauded for its efforts, but it’s too soon to judge the country by its one green financing exercise — especially as the nation is far from environmentally friendly.

Two Indonesian finance companies that serve customers in the automobile sector have launched deals in quick succession.

The Government of the Republic of Indonesia raised $1.25bn on Thursday in the first green sukuk from a sovereign, paving the way for more green issuance from Asian countries.

Malaysia’s RHB Bank is deepening its presence in Vietnam with the full acquisition of Vietnam Securities Corp (VSEC), a stock brokerage and corporate finance outfit.

Overseas Chinese Banking Corporation (OCBC) had adequate demand to print a €500m five year covered bond on Thursday, and though it was unable to reach the upper end of its size ambitions, it was able to issue the tightest Singaporean covered bond in euros.

MUFG Securities Asia has named Royal Bank of Scotland veteran Pierre Ferland as its new chief executive.

The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.

The Government of the Republic of Indonesia’s green sukuk is a game changer for the region, giving a boost to a green sovereign bond market that has so far had scant issuance globally.

United Overseas Bank issued its debut covered bond in sterling on Wednesday, and the first from a Singaporean bank. Despite being its maiden deal, UOB was able to match the spread of more established sterling issuers. At the same time, Overseas Chinese Banking Corporation (OCBC) has mandated for a euro covered bond benchmark.