Southeast Asia

Hong Kong property developer CNQC International Holdings pulled off a S$100m ($73.4m) bond sale on Tuesday, following a booming first half of the year for the company.

Chandra Asri Petrochemical reeled in investors on Monday with its new dollar bond. The issuer offered some value compared with its peers, but still managed to grab itself a snug price.

CNQC International Holdings, a Hong Kong-based property developer and contractor, has opened the order book for a Singapore dollar bond. The company is approaching investors after bumper first-half profits.

Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, has allocated its $250m loan. The deal is scheduled to sign next week.

Razer started taking orders on Monday for a Hong Kong IPO that could be worth as much as HK$4.3bn ($545.0m). About a third of the book has already been covered by cornerstone investors, even though some bankers think the valuation looks stretched.

AVIC International Leasing Co, the leasing arm of China’s state-owned aircraft manufacturer Aviation Industry Corporation of China, will kick off a Reg S roadshow from Tuesday. CNQC International Holdings, meanwhile, is meeting accounts in Singapore for a bond in the local currency.

Indonesia’s Chandra Asri Petrochemical opened books for its first offshore dollar deal on Monday morning, following a roadshow last week.

Two A-share smart beta exchange traded funds (ETFs) list in Hong Kong, the central bank of Cambodia wants the country’s businesses to use renminbi to trade, and Industrial and Commercial Bank of China (ICBC) agrees to co-operate with New Development Bank (NDB) on financing the Belt and Road Initiative (BRI).

Vincom Retail jumped the final hurdle this week to pulling off the largest ever flotation in Vietnam. The firm is on track to raise D16.1tr ($708.6m) by pricing its offer at the top of guidance, after an unusual schedule.

Singapore’s Reit issuers had a busy week, with Keppel-KBS US Real Estate Investment Trust off to a good start on its $448m IPO and Mapletree Industrial Trust raising S$155.7m ($114.5m) from an overnight placement.

Allocations are out for a $500m five year fundraising by Bank Negara Indonesia. A total of 26 lenders formed the bank group for the deal.

Keppel-KBS US Real Estate Investment Trust has started bookbuilding for its $448m IPO in Singapore, the city-state’s second Reit listing backed by US assets.