Thailand

CP Pokphand Co, the Hong Kong-listed investment arm of Thailand’s Charoen Pokphand Foods, has closed a $400m loan for refinancing with 15 lenders.

Asian Development Bank offloaded chunks of Thai energy companies B.Grimm Power and Gulf Energy Development this week, raising Bt9.6bn ($303.9m).

CPF Investments, a unit of Thai firm Charoen Pokphand Foods, has returned to the loan market for a refinancing of up to $1bn.

Thai oil and gas company PTT Public Co sold the first 50 year bond from an Asian corporation on Thursday, raising $700m from a tightly-priced deal.

Sri Trang Gloves priced its Bt15bn ($481.4m) Thai IPO at the top of the range this week, taking advantage of coronavirus-driven demand, strong international interest and a liquid domestic equity capital market. Jonathan Breen reports.

Thai rubber glove maker Sri Trang Gloves is set to raise Bt14.9bn ($481.4m) from its IPO, capitalising on a surge in demand for its products caused by Covid-19.

Thai hospitality company Minor International (Mint) used a guarantee from Bangkok Bank to issue a $300m bond this week. The deal structure, which echoes its 2018 debut bond, helped quell investor concerns about how Covid-19 has ravaged the borrower’s business. Morgan Davis reports.

The strong response from banks to Charoen Pokphand Group’s acquisition-related loan is not a true reflection of conditions in Asia’s syndications market — despite what some may say.

Thai Oil Public Co managed to raise $1bn from a dual-tranche bond by the ‘skin of its teeth’ on Thursday, tightening price guidance twice during bookbuilding to find the right groups of investors.

Thailand’s PTT Exploration and Production Public Co (PTTEP) found strong support for its $500m seven year bond on Thursday, despite an aggressive price tightening during bookbuilding.

Charoen Pokphand Group has launched a $7.15bn-equivalent loan into general syndication after attracting five banks at the senior level.

Sino Biopharmaceutical’s shares tumbled about 8% on Tuesday after its chief executive officer, Tse Ping, sold a portion of his stake in the company for HK$2.27bn ($292.9m).