Asean

Thai Beverage is planning to spin off and list its brewery business in a deal that could raise up to $2.5bn, according to a source familiar with the matter.

Philippine brandy making company Emperador has closed a €405m borrowing with 13 lenders in the syndicate.

The Asian Infrastructure Investment Bank (AIIB) and Singapore’s Clifford Capital have launched a new infrastructure debt financing platform that will remove some of the pressure on banks financing projects. It will also position Singapore as the leader in a sector that desperately needs private funds, writes Morgan Davis.

Thailand’s state-owned PTT Exploration and Production Public Co ended a two-year hiatus from the offshore bond market this week with a $650m deal, taking advantage of the low rate environment to extend its maturity profile to 40 years.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

The World Bank has issued the first catastrophe bond to be sponsored by an Asian government, and the first to be listed on the Singapore Exchange. The Philippines will receive protection against damage caused by earthquakes and cyclones, writes Jasper Cox.

TMB Bank Public Co has sealed a $400m Basel III-compliant additional tier one bond. The rarity of the Thai deal made price discovery tricky.

SPH Real Estate Investment Trust has bagged S$161.5m ($118.4m) after issuing a chunk of new stock.

MUFG Bank has hired Marilyn Gan as head of origination for its Asia Pacific aviation financing business.

United Overseas Bank (China), a wholly-owned subsidiary of Singapore’s UOB, raised Rmb1bn ($142m) of tier two capital this week, becoming the first issuer in China’s domestic market to obtain an international rating for a subordinated deal. That proved crucial to driving demand, writes Rebecca Feng.

Commodities company Mercuria has closed its annual borrowing at a size of $1.2bn after 24 banks joining the deal during general syndication.

Three bankers have recently joined Natixis’s telecom industry group. Two are in Paris and one is in Singapore.