Indonesia

A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.

Indonesian state-owned Perusahaan Listrik Negara (PLN) sold $1.4bn of bonds this week, split equally between 10 year and 30 year tranches, pricing both slightly inside fair value.

Indonesian power company PLN is set to launch a $1bn loan into syndication this week, after hiring a group of 10 banks to run the deal.

Indonesian firm Soho Global Health has lined up a trio of bookrunners for a potential IPO, according to a source familiar with the matter.

Packing company Dynapack Asia is tapping the loan market for the first time, seeking a S$250m ($182m) borrowing.

Indonesia Eximbank has launched a $900m dual-tranche borrowing into general syndication.

Lippo Malls Indonesia Retail Trust made its debut in the dollar market on Wednesday, diversifying its investor base and achieving quite a large deal size at an attractive price.

The Republic of Indonesia raised more than $1bn from tightly priced bonds in the dollar and euro markets this week, taking advantage of improved investor sentiment and a recent upgrade to draw in investors.

Andalan Finance Indonesia, an auto finance company, is in the offshore loan market seeking a $50m deal.

The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.

AAA Oils and Fats (AAAOF), a trading subsidiary of palm oil processor and distributor Apical Group, is seeking to amend and extend the revolving credit facility tranche of a $800m borrowing from 2017.

Two southeast Asian companies, Prasac Microfinance Institution and Perusahaan Listrik Negara (PLN), are preparing new offshore borrowings.