Thailand

Thailand’s Ratchaburi Electricity Generating Holding Public Co (Ratch) made a rare appearance in the debt market on Tuesday, raising $300m at a tight price thanks to its scarcity appeal.

China launches onshore trading for Thai baht, NPC chairman says Hong Kong remains important to China’s effort to promote the renminbi, and China Construction Bank opens a new branch in Auckland.

Bangkok Bank has sold a chunk of its stock in Jasmine Broadband Internet Infrastructure Fund, raising Bt4.4bn ($140.7m) after boosting the size of the trade.

Thai firm Canopus International has raised $200m from a bond exchangeable into shares of Indorama Ventures, the first zero coupon exchangeable with a Thailand-listed underlying stock.

Thailand’s Osotspa is planning a flotation of up to $400m on the domestic bourse this year, said bankers working on the trade.

The Chinese government contemplates RMB-denominated IPOs for mainland companies fundraising for Belt and Road projects, foreign ownership of Chinese bonds goes up in December, and premier Li Keqiang indicates the economy grew by 6.9% in 2017.

Thailand’s Kasikornbank prioritised price over size for its return to the bond market this week, selling a $400m deal at a level that forced some investors to stay away.

Thailand’s Kasikornbank is in the market with a 5.5 year dollar bond, some 15 months after its last appearance in the offshore debt market

China has relaxed access to the onshore renminbi (CNY) foreign exchange market for overseas banks based in Cambodia, Kazakhstan, Mongolia and Thailand, all countries that fall under the Belt and Road initiative, GlobalRMB has learned.

Charoen Pokphand Foods (CPF) has brightened up Thailand’s offshore syndications market, tapping international liquidity for a $625m loan. With few other deals from the southeast Asian country whetting lenders’ appetite, banks are keen to take a piece of the fundraising. Shruti Chaturvedi reports.

CPF Investment, a unit of Thai firm Charoen Pokphand Foods (CPF), has approached the syndicated loan market for a $625m borrowing.

The first post-IPO share sale in Thailand-listed B. Grimm Power raised Bt2.5bn ($76.6m) for the company chairman last Friday.