Singapore

Thai Beverage is preparing to spin off and list its brewery business, BeerCo, on the Singapore Exchange in a deal expected to raise as much as $2bn.

Sustainability-linked bonds conquered a new investor base this week, as the instrument spreads rapidly around the world. Surbana Jurong, an architecture and engineering consultancy indirectly owned by the Singapore government, brought the first such instrument to the Singapore dollar market, where it aroused keen interest.

The march of sustainability-linked bonds continued on Wednesday, as Surbana Jurong, the architecture and engineering consultancy that has built more than 1m homes in Singapore, launched the first such deal in Singapore dollars and one of the first in Asia. It also comes from a new sector.

JP Morgan’s head of southeast Asia equity capital markets has resigned, according to a source familiar with the matter.

The Singapore Exchange has sold a €240m zero coupon convertible bond, its debut equity-linked issue and the first CB from a stock exchange globally in eight years.

Singapore’s ride hailing start-up Grab Holding has further increased the size of its term loan B to $2bn following solid traction in the US market.

Singaporean ride-hailing company Grab Holdings has boosted the size of its term loan B after receiving a strong response from the market, setting the stage for more Asian start-up firms to head to the US for financing.

Kaisa Group Holdings and BOC Aviation used swift taps to add more money to their coffers on Tuesday.

Nomura has added more than 20 private bankers and investment advisers in Hong Kong and Singapore as part of its strategy to boost its wealth management business in Asia and globally.

BOC Aviation followed Singapore Airlines into the bond market this week, bagging $400m amid a boost in sentiment around the travel industry.

Oversea-Chinese Banking Corp has appointed Helen Wong as its next chief executive, propelling the former HSBC banker to the top job just a year after she joined the Singaporean lender.

Singapore Airlines made its debut in the dollar bond market on Wednesday, raising funds for new aircraft purchase as the travel industry prepares for a rebound in the near future.