Thailand

Thai Beverage has postponed the multi-billion-dollar spin-off and listing of its brewery unit in Singapore, citing choppy markets and a surge in Covid-19 cases in Thailand.

Krung Thai Bank Public Co (KTB) sold a Basel-III compliant additional tier one bond this week, ending a seven-year break from the international dollar debt market to bag $600m.

The controlling shareholder of Thailand’s Stark Corp has sold a chunk of his shares in the company, raising Bt3.77bn ($122.4m) after pricing the deal towards the top of price guidance.

PTT Global Chemical (PTTGC) got a five times subscribed book for its dual-tranche bond on Thursday, attracting investors as a rare transaction from Thailand.

Thai Union Group, a seafood producer, has raised its first sustainability-linked loan of Bt12bn ($401m)-equivalent from the Thai and Japanese markets.

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.

Thailand’s PTT Oil and Retail Business scooped up Bt54bn ($1.79bn) this week from the country’s largest IPO in a year. The deal was a hit with both domestic and foreign investors — but in a somewhat unusual twist, the issuer cut the entire international public book during allocation. Jonathan Breen reports.

PTT Oil and Retail Business has set the price guidance for its long-awaited IPO. It is aiming to raise up to Bt46.98bn ($1.57bn) from the country’s largest listing in a year.

Thai conglomerate Charoen Pokphand Group will likely tap both the bond and loan markets to take out a bridge facility raised last year for the acquisition of retail giant Tesco’s Asia business.

Asia’s first blue loan has sparked debate among market observers about the potential of the asset class amid rising interest from borrowers for ESG-focused funding. While expectations are high for the blue loan market’s development in 2021, challenges remain, writes Rashmi Kumar.

Kerry Express, a Thailand-based delivery company, has raised Bt8.4bn ($279.5m) after sealing its IPO at the top of the marketed range.

Thai express delivery company Kerry Express launched its IPO this week, aiming to raise up to Bt8.4bn ($278.2m) in proceeds.