Indonesia

Indonesia’s Mega Central Finance and Mega Auto Finance are jointly seeking a $75m fundraising, which opened into general syndication on Tuesday.

VietJet Air has started seeking investor interest for its potential $200m domestic IPO, according to bankers close to the deal.

Two live IPOs in Asia are seeing an encouraging response from investors, with Donald Trump’s surprise victory in the US presidential election having little impact on their bookbuilds.

Indonesia’s Sinar Mas Group is planning to float its power assets on the Singapore Exchange (SGX) through a potential $800m IPO, according to a source familiar with the matter.

Banks are yet to reach a unanimous decision on relaxations sought by Royal Industries Indonesia, which defaulted on the first principal repayment of a dual tranche loan signed in 2015. All lenders have to grant approval for the changes to be implemented.

Indonesian television broadcaster MNC Sky Vision has cut its latest fundraising to $170m — the second time it has reduced the deal size. The loan, which had been in general syndication since late June, attracted three commitments from retail lenders.

Indomobil Finance Indonesia has returned to the syndicated loan market for a $100m borrowing after a break of nearly one and a half years.

There has been a relentless downward pressure on the pricing of investment grade loans this year, as lenders choose to preserve the size and quality of their balance sheets even in the face of diminishing returns. Unfortunately, respite from margin compression is not coming any time soon, as volumes remain low and banks’ liquidity and hunger for assets show no signs of abating. Shruti Chaturvedi reports.

Indonesian property developer Lippo Karawaci excited investors on Monday with its roll out of a longer tenor, high yield bond.

Indonesian property developer Lippo Karawaci is continuing its efforts to push out its debt maturity profile with a new 10 non call five bond.

ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.

Indonesian telecommunication tower company Solusi Tunas Pratama has opened the dollar portion of a $350m-equivalent multi-currency loan to retail lenders.