Southeast Asia

ING Bank has relocated a leveraged finance banker from London to Singapore to head structured acquisition finance and sponsor coverage in Asia.

Astra Sedaya Finance (ASF) has doubled the size of its offshore loan to $300m on the back of demand from 14 banks during general syndication.

Japfa Comfeed Indonesia and Lippo Malls Indonesia Retail Trust wrapped up their fundraisings successfully on Monday while Soechi Lines was forced to pull its debut deal.

Citic CLSA has hired a longtime southeast Asia ECM banker as head of Singapore corporate finance and capital markets, sources close to the move said.

International Finance Corp (IFC) and ANZ have launched a $150m fundraising for Indonesia Infrastructure Finance (IIF) into syndication.

Lippo Malls Indonesia Retail Trust has opened books for a Singapore dollar perpetual non call 5.5 year offering, as two of its compatriots also hit the offshore market.

Japfa Comfeed Indonesia is one of three names from the country in the debt market on Monday, opening a tap of its five non call three bonds printed three months ago.

Indonesia’s Soechi Lines opened books for a five non call three year on Monday morning, its inaugural dollar transaction.

China’s FX reserves rise for the fourth consecutive month in May, a Chinese securities regulator says the country will start allowing foreign investors to trade commodities futures onshore, and Ford Motor’s onshore financial arm issues RMB-denominated bonds.

AL Learning, an education company backed by private equity firm Advent International, has approached banks for a S$178m ($128.8m) loan through three mandated lead arrangers and bookrunners.

HRnetGroup priced its S$174m ($126m) Singapore IPO at the top of the indicative range on Thursday as investors bought into its “phenomenal entrepreneur story”, said bankers.

A recent flurry of loans from southeast Asia has raised hopes of a stronger third quarter for deal volume following a dismal first half, with borrowers from the consumer sector and FIGs expected to seek financing. While the uptick is more than welcome, a couple of big ticket acquisition-related trades will be necessary to move the needle, writes Shruti Chaturvedi.