Southeast Asia

Oil products storage and distribution firm Puma Energy is back in the loan market for a two-pronged $570m financing, to extend as well as replace some of its existing debt.

Philippines’ Petron Corp is tapping the syndications market for $600m to partly refinance a term loan due next year, as well as some peso-denominated notes.

Pre-marketing for Asian IPOs picked up in earnest on Monday, with Guotai Junan Securities Co’s $2bn listing in Hong Kong among those vying for investor attention.

Indonesian company Sri Rejeki Isman (Sritex) is readying a seven non call four dollar note, announcing the deal on the back of strong growth in 2016.

Bank of America Merrill Lynch’s head of southeast Asia FIG investment banking and a managing director in the Asia Pacific financial sponsors group have left.

TPI Polene Power is lighting up Thai ECM, launching an up to Bt17.5bn ($500m) IPO on Friday with eight cornerstone investors in the bag.

The MTN market for real estate developers in Singapore has sparked to life. This could be linked to the government’s relaxation of property market measures that took effect on March 11.

Citi has reshuffled its southeast Asian corporate and investment banking (CIB) leadership, with David Biller and Jonathan Quek set to take on more responsibility.

Oversea-Chinese Banking Corporation (OCBC) stepped into the euro covered bond market for the first time with a well received €500m deal that capitalised on strong technical demand in the five year part of the curve.

The Republic of Indonesia has mandated banks for a new dollar sukuk, getting ready to re-enter the market after setting records with its dual tranche sukuk last year.

Viz Branz Holdings will raise up to S$213m ($151m) in its return to the Singapore equity market, with the IPO opening books on Wednesday.

Oversea-Chinese Banking Corporation Limited (OCBC) will become the third Singaporean borrower to issue a euro-denominated covered bond this year and is expected to open order books for its debut deal on Tuesday. The deal is going to be a rare five year, so it is likely to get good execution.