Southeast Asia

Union Bank of the Philippines made diversification its focus in its return to the dollar debt market after a 13 year absence, netting $400m from a tightly priced offering.

Thailand’s Gulf Energy Development Co has priced its IPO at the top of guidance, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in over a decade.

Banks running dollar deals for Philippine homebuilder Vista Land & Lifescapes and Indonesian energy company ABM Investama steered the transactions to success on Monday despite a shaky market for high yield credits.

Union Bank of the Philippines launched its first international bond in 13 years on Tuesday, offering investors a bit of diversity in a day otherwise filled with Chinese issuers.

Indonesian energy company ABM Investama reopened its five non call three year bond from July on Monday, looking to add to the original $300m print.

Centratama Telekomunikasi Indonesia, an IT and internet services provider, is in the market with a triple-tranche $390m loan tied to its M&A plans.

Philippine homebuilder Vista Land & Lifescapes is back in the offshore debt market after a near two year break, and is taking bids for a new transaction.

Home Credit Vietnam has put together a $80m borrowing with four banks. The deal marks the firm’s second loan in the international market.

UK bank Barclays made its first trip to the Singapore dollar market on Thursday, grabbing S$200m ($147.5m) from an opportunistic transaction.

Thailand’s state-owned energy giant PTT cashed in its stake in Star Petroleum Refining this week, using a clean-up block trade to raise Bt3.71bn ($112.2m), according to a source close to the deal.

Barclays is courting Singapore investors on Thursday for a benchmark subordinated Singapore dollar bond.

Natixis has boosted its distribution capabilities in southeast Asia by bringing in a former BNP Paribas loans banker.