Asean

Indonesia coal producer Indika Energy was back in the debt market on Thursday with a $450m bond.

Union Bank of the Philippines (UnionBank) made a rare outing in the dollar market on Thursday, competing with hefty supply from Greater China to raise $300m.

SMC Global Power Holdings Corp was one of the few Asian issuers outside of China to turn to the dollar market this week. The Philippine borrower attracted ample investor support, allowing it to raise more money than it had first planned.

Malaysia’s Sunway Real Estate Investment Trust (Reit) pocketed MR710m ($171.2m) in fresh equity this week from a follow-on offering of new units.

Malaysia’s Sunway Real Estate Investment Trust (Reit) has raised MR710m ($171.2m) from a follow-on offering of new stock.

Top Glove Corp, the world’s largest rubber glove maker, is considering a dual primary listing on Hong Kong’s stock exchange.

Singapore’s United Overseas Bank issued a A$500m ($362.2m) bond in Australia on Friday, as a lack of financial paper in the market drove investor demand.

Converge ICT Solutions, an internet service provider, has bagged Ps25.2bn ($521.1m) from its Philippine IPO after pricing the stock just off the bottom of the marketed range.

Kasikornbank Public Co rolled out its first Basel III-compliant additional tier one subordinated dollar transaction on Thursday. The Thai borrower bagged $500m on the back of an orderbook that reached $2.5bn at its peak.

Philippine carrier Cebu Air is looking to tap the equity markets for $500m, in an attempt to position itself for a recovery from the impact of the Covid-19 pandemic.

Singapore-incorporated global energy business Puma Energy has pulled a planned dollar bond that was set to refinance an existing loan. The company attributed it to a lack of conducive market conditions, though investors say the issuer's credit story was unconvincing.

Indonesia’s Star Energy Geothermal found solid investor demand for Asia’s first dollar-denominated project bond of the year. The deal was helped by the issuer’s investment grade rating and a green label that helped reduce pricing. Morgan Davis reports.