Southeast Asia

ING Bank’s Manuel Salak, clients coverage and corporate finance head for Asia, is retiring after 23 years at the firm, according to a Monday press release.

Singapore’s HRnetGroup will be pre-marketing a S$150m ($107m) Reg S only IPO until the end of May, according to sources close to the float.

National Australia Bank is selling its private wealth business in Singapore and Hong Kong, as it looks to simplify its structure and focus on corporate and institutional banking.

HSBC levfin banker moves to BAML — Axis Bank promotes HK credit head — UBS banking moves — Apac corporate finance head at FAB — AmBank hires from RHB — Citic CLSA names global M&A head — Sim to runhelm CMS equities — Asifma head of equities exits

Standard Chartered is strengthening its credit teams in Singapore, Hong Kong, London and New York, the bank said this week.

Bumi Serpong Damai and ICBC Sydney jumped into the debt market on Tuesday, capitalising on the positive market sentiment following the French presidential election.

AMTD Strategic Capital Group, the insurance brokerage arm of AMTD Group, is planning to list in Hong Kong, according to a filing with the stock exchange on Monday.

Indonesian state-owned electricity distributor Perusahaan Listrik Negara (PLN) raised $2bn from a dual-trancher on Monday. It achieved both size and price, while bankers said it also helped boost supply from the country’s quasi-sovereigns.

Indonesian property developer Bumi Serpong Damai (BSD) is tapping its outstanding 2023s on Tuesday, launching the deal at the market open.

Standard Chartered is giving a shot in the arm to its credit business, with new hires in Singapore, Hong Kong, London and New York, according to a Tuesday press release.

A default event has been declared on a $222m loan for Indonesian gas-to-power specialist MAXpower Group. The company first flagged up its financial problems over a year ago and had been speaking with lenders to rejig terms on the five year syndication sealed in 2015.

Indonesian automobile finance company Mandiri Tunas Finance (MTF) has hit the offshore syndicated loan market for a $100m borrowing.