Southeast Asia

The State Administration of Foreign Exchange (Safe) reports rise in foreign reserves, China Insurance Regulatory Commission (CIRC) chief is under investigation over misconduct, and no formal agreement emerges following Xi Jinping’s meeting with Donald Trump.

Indonesian developer Modernland Realty closed a modest $240m deal on Thursday, against a weaker market backdrop in Asia.

CT Corp company Trans Retail Indonesia has allocated its $575m borrowing among a group of 36 lenders.

CDL Properties has made a splash in the Singapore dollar debt market, selling the country’s first green bond, a S$100m ($71.3m) two year deal.

Hong Kong-listed National Arts Entertainment and Culture Group is preparing to spin off and list a pair of assets as a trust on the Singapore Exchange.

Indonesia’s triple-C rated Indika Energy priced a $265m bond on Monday on the back of a nearly five times subscribed book. The issuer’s rating story was complicated by downgrades over the past year, but investors were willing to consider its likely future as a B2 rated credit. Morgan Davis reports.

Sumitomo Mitsui Banking Corp and ANZ are making changes to their loans businesses in Singapore. SMBC is building up its distribution capabilities, while ANZ is looking to replace a senior banker.

CDL Properties has thrown open the doors for the Singapore green bond market, launching its deal on Thursday, just two weeks after the country announced a grant scheme for socially responsible issuers.

Modernland Realty launched a new dollar deal on Thursday, following on the success of other high yield Indonesian names this year.

Three senior members of Deutsche Bank’s Asia debt and equities teams have left, with two of them jumping ship to Credit Suisse.

Indonesia’s triple-C rated Indika Energy grabbed $265m from a new deal on Monday, on the back of a five times subscribed book fueled by yield hungry investors.

Ascott Residence Trust has wrapped up its rights issue 1.8x covered, raising S$442.7m ($313.7m) for the Singapore real estate investment trust.