Indonesia

Korea Exchange has put together a group of specialists to help attract blue chip companies from Indonesia and Vietnam to list in South Korea.

Lippo Karawaci has launched an exchange offer and consent solicitation, aiming to switch holders out of a 2019 bond into new 2023 notes.

Indonesia is making a renewed push to list its myriad state-owned enterprises in a bid to relieve pressure on public finances. But those plans could yet be scuppered by a host of issues, not least of which is domestic politics.

January kicked off with China front and centre as the upheaval in its stock market caused indices across the globe to tumble. South and southeast Asia did not escape unscathed but the chances are that when markets stabilise, investors will be eager for equity issuance from the region.

Indonesian car rental service provider Indorent has raised $100m from its debut international syndicated loan. The borrowing came with a greenshoe of $50m, which was not exercised.

A $300m dual-tranche borrowing for a subsidiary of palm oil producer Golden-Agri Resources has launched into syndication. The money was funded by four banks in mid-2015.

While all eyes are on China and turmoil in the mainland equity markets, our columnist turns his gaze to Indonesia where once again the government is attempting to privatise state-owned companies.

A $600m loan for the upstream oil and gas arm of Perusahaan Gas Negara (PGN) has seen commitments worth $100m come in so far.

Struggling Indonesian company Trikomsel Oke has had its debt payment obligations suspended, according to an official statement released by the firm on January 4.

Lippo Malls Indonesia Retail (LMIR) Trust has wrapped up a S$100m ($70.6m) term loan with three lenders.

GCL-Poly Energy Holdings and GCL New Energy Holdings are looking to raise a combined HK6bn ($774m) in separate rights issues as they seek to aid each other’s expansion plans.

Indonesian telco tower company Solusi Tunas Pratama (STP) has asked banks to relax a covenant on a loan raised in May as it anticipates future acquisitions that will change its gearing levels.