Asean

Senior ING banker Herry Cho is moving to the Singapore Exchange to take on a newly created position as head of sustainability and sustainable finance.

Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.

Vingroup Joint Stock Co has launched an up to $400m loan to the market.

Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time in the past three months as a result of refinancing pressure.

Thai conglomerate Charoen Pokphand Group will likely tap both the bond and loan markets to take out a bridge facility raised last year for the acquisition of retail giant Tesco’s Asia business.

Indonesian chicken producer Widodo Makmur Unggas is aiming to raise up to Rph1.18tr ($84m) from the country’s largest IPO in over a year.

UBS has appointed Axel Granger as head of M&A and head of financial sponsors for southeast Asia, a newly created position at the bank.

Singaporean ride-hailing company Grab Holdings has added a dash of excitement to the loan market with plans to raise $750m from a new outing. Pan Yue reports.

The Republic of Indonesia kicked off its 2021 bond issuance this week with a $3bn deal in dollars, split across 10 year, 30 year and 50 year notes, as well as a €1bn tranche.

Singapore-based Ivanhoe Capital, led by mining billionaire Robert Friedland, is floating a special purpose acquisition company (Spac) on the New York Stock Exchange.

The Republic of Indonesia, a keen issuer in dollar and euro markets, launched a euro-denominated benchmark bond on Tuesday, jumpstarting its funding for the year.

Singapore could prove to be a rich seam of covered bond issuance next year, with bankers suggesting analysts’ expectations are far too pessimistic. Conversely, Australian issuance may prove to be disappointing. Meanwhile, potential new legal developments in Japan and Malaysia will provide a key focus of attention.