Thailand

Yoma Strategic Holdings has become the first company from Myanmar to sell an international bond, raising the equivalent of $70m in the Thai baht market.

Hong Kong-based Kerry Logistics Network is planning to raise around $300m from an IPO of its Thai business.

Citi has appointed a new head of Thailand corporate and investment banking (CIB), hiring a senior banker from HSBC.

Thai hotel operator Minor International had to get creative with its debut $300m bond, owing to its lack of rating and inaugural status. It looked abroad for inspiration, ultimately opting for a South Korean-inspired structure. Morgan Davis reports.

Thailand’s Strategic Hospitality Extendable Freehold and Leasehold Reit is set to launch a Bt3.96bn ($120m) sale of new units next month.

Thai Oil Public Co navigated challenges around fluctuating oil prices to push out a $1bn dual-tranche bond on Thursday that was strongly supported by investors.

Export-Import Bank of Thailand has raised $300m from its first foray into the offshore bond market, generating $2.5bn of demand — and setting an important benchmark for the country’s issuers. Morgan Davis reports.

The Export-Import Bank of Thailand set a benchmark for issuers from the country with its debut $300m outing on Tuesday, finding strong backing both in the primary and secondary markets.

The recent resurgence in Thai IPOs is reassuring amid the volatility roiling many emerging markets. But the success of the listings from Thailand Future Fund and Osotspa is far from a reflection of a booming ECM market in the country.

Thailand Future Fund took full advantage of a wealth of domestic demand for its IPO, pricing the Bt44.7bn ($1.37bn) transaction at the top of expectations, according to a banker on the deal.

Thailand Future Fund hit screens on Friday, with a set of cornerstone investors looking to help get its Bt44.7bn ($1.4bn) IPO across the line.

Thai energy drinks manufacturer Osotspa has raised Bt15.1bn ($459.5m) from its IPO, taking advantage of a quiet market and its familiarity among investors to price at the top of the range.