Asean

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.

Singapore-based special purpose acquisition company (Spac) Aspirational Consumer Lifestyle Corp is looking to raise $225m from a listing on the New York Stock Exchange.

MUFG Bank has hired Hoang Thi Tuong Khanh as director and head of global corporate banking for Vietnam.

Indonesian property developer Modernland Realty missed a coupon payment on its dollar bond this week, triggering a further downgrade in its rating.

Hong Kong-based conglomerate First Pacific Co had to navigate underperforming bonds from peers and difficulties around price discovery for its $350m bond return.

Indonesian company Sarana Multi Infrastruktur (SMI) has increased the size of its loan to $700m after seeing strong traction from banks during syndication.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Singapore-listed Frasers Centrepoint Trust is looking to raise S$1.39bn ($1.02bn) by selling new units equal to over half its existing stock.