Asean

Ayala Land, one of the Philippines’ largest property owners, has filed an IPO application for a real estate investment trust (Reit), the country’s first public offer of the asset class.

PetroVietnam Gas (PV Gas) is in talks with banks about its syndication plan for a nine year loan.

Thailand’s Central Retail Corp has priced the country’s largest IPO near the top of the marketed range, netting Bt71bn ($2.3bn) by navigating a volatile stock market.

Malaysia’s capital markets regulator is looking to position the country as the regional hub for sustainable and responsible investment, launching a new initiative to help corporations meet the United Nations’ sustainable development goals.

The International Fund for Agricultural Development, the Government of Cambodia and the European Investment Bank have launched a $124.5m rural development project to boost income and food security in the southeast Asian country.

Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is making its second attempt to raise a syndicated loan, after pulling a deal in 2017. It is one of several Vietnamese borrowers now planning a debut in the international market, reports Pan Yue.

The Republic of the Philippines hit the market with a pair of euro benchmark bonds on Tuesday, making a rapid comeback to the currency.

Shangri-La Asia raised S$250m ($185.3) from the Singapore dollar bond market on Tuesday, after seeing an opportunity for unrated issuers in the city.

BFI Finance Indonesia, which provides funding for automobiles, heavy equipment and properties, has returned to the loan market for a $75m borrowing.

The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

Real estate company Bumi Serpong Damai (BSD) followed the recent success of other high yield Indonesian borrowers in the dollar market on January 20, homing in on a refinancing opportunity that had slipped through its fingers in 2019.