Southeast Asia

Formosa Plastics Corp is preparing to set a new pricing benchmark with its planned $2bn loan, which bankers reckon could set a record low for a borrower from Taiwan. If the company succeeds, this could set a dangerous precedent for the long-term health of Asia’s loan syndication market.

Formosa Plastics Corp is seeking a $2bn loan that bankers expect to be priced at a record low for borrowers from Taiwan, setting a benchmark for future transactions.

Singapore’s Farrer Park Co has become the latest company from Asia to tap the green loan market, raising a S$200m ($147m) facility from United Overseas Bank.

Bangkok Bank sold its first Basel III-compliant additional tier one dollar bond on Tuesday, making it a rare bank capital offering from Thailand.

The Asian Development Bank has received a Rmb10bn ($1.48bn) Panda bond quota from the Chinese interbank regulator. The multilateral development bank, which sold the world's second ever Panda about 15 years ago, is waiting for the right window to push out its offering, GlobalCapital China understands.

Singapore’s agribusiness company Wilmar International as well as Hong Kong conglomerate Swire Pacific have both raised sustainability-linked loans.

Philippine real estate company Filinvest Development Corp raised $200m from a five year bond on Thursday.

The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.

Minsheng appoints new syndicate head — MUFG hires in Vietnam

Vietnamese food and beverage company Masan Group Corp is in talks with banks for a new borrowing, planning a return to the loan market after seven years.

Singapore’s United Overseas Bank has bagged the lowest yield globally for a Basel-III compliant tier two dollar bond, breaking the record set by its peer Oversea-Chinese Banking Corp just last week.

BOC Aviation paid investors a small premium on Tuesday to seal a $750m decade bond.