Asean

South Korean supermarket chain Homeplus Stores is nearing a $1.5bn real estate investment trust listing. The deal deserves attention in its own right. But it also serves as a stark reminder that Singapore, once the quintessential Reit listing venue in Asia, has fallen from grace.

China Forestry Group has returned to the offshore market, raising its second international loan through a Singaporean subsidiary.

Philippine-based PH Resorts Group (PHR) has opened bookbuilding for a potential Ps10.4bn ($198.8m) follow-on offering of common shares.

Adira Dinamika Multi Finance has launched a $250m three year term loan into general syndication. The deal was led by five lenders.

PetroVietnam Gas Joint Stock Corp has picked Mizuho as sole mandated lead arranger and bookrunner for a $200m borrowing. It is the latest sign of a boom in southeast Asia’s offshore loan market that is leaving bankers divided on pricing, tenors and covenant packages.

China’s Chow Tai Fook and Vietnam’s Vingroup have returned to the offshore loan market, with both borrowers inviting banks to join senior syndication.

The Republic of Indonesia was back in the dollar market this week with its regular sukuk issuance. But with a trade that mirrored its 2018 Islamic financing transaction, the sovereign added a green tranche, allowing it to tap a niche set of investors in an effort to raise $2bn. Morgan Davis reports.

Malaysia’s RHB Bank ended its dollar bond market hiatus on Tuesday, offering a $300m bond that got big demand despite its ultra-tight pricing.

Vingroup Joint Stock Company has made a quick return to the offshore loan market, attempting its third borrowing in 12 months.

The Republic of Indonesia returned to the bond market in style this week, using a tried-and-tested formula by adding a green tranche to a $2bn sukuk.

Malaysian property developer Eastern & Oriental (E&O) is looking to raise as much as MR550m ($134.8m) from a rights issue and a private placement that will partially fund its latest project.

Singapore-listed Mapletree Industrial Trust (MIT) has bagged S$201m ($147.9m) after upsizing an overnight unit placement on the back of strong early demand.