Asean

The Lao People's Democratic Republic is pursuing a dollar bond sale.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.

VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has exercised the greenshoe option to increase the size of its loan to $170m.

Fitch has downgraded Malaysia for the first time since the Asian financial crisis, slashing the sovereign rating by one notch to BBB+ due to the Covid-19 crisis and political uncertainty.

Indonesian textile products manufacturer Sri Rejeki Isman, better known as Sritex, is planning to extend a dollar loan closed in 2019 by two years.

The Republic of the Philippines sold its largest international bond in more than a decade this week, raising $2.75bn from a deal that received strong support from investors confident about the country’s control of Covid, and its outlook. It even managed to get away with a record low coupon on one of the tranches.

Thai express delivery company Kerry Express launched its IPO this week, aiming to raise up to Bt8.4bn ($278.2m) in proceeds.

Indonesian state-owned electricity company Perusahaan Listrik Negara is planning a return to the market for a new $1bn loan.

Singapore banking veteran Eric Lian has returned to UOB in a senior position after a stint at OCBC.

Taiwan’s printed circuit board manufacturer Apex International has closed a $50m loan for its Thai business.

The allocation of Indonesian instant noodle maker Indofood CBP Sukses Makmur’s $2.05bn-equivalent acquisition loan has been finalised, after the lead banks closed the syndication earlier this month.

The Kingdom of Thailand raised Bt20bn ($659.5m) from a syndicated bond on Tuesday, tapping its 15 year sustainable deal.