Thailand

Thailand’s state-owned oil and gas conglomerate PTT is moving forward with the IPO of its subsidiary PTT Oil and Retail Business.

Charoen Pokphand Group has invited banks to join a $7.5bn dual-currency loan in senior syndication. The deal will support the Thai conglomerate’s acquisition of Tesco’s Asia business.

CPN Retail Growth Leasehold Reit dived 20% in Friday morning trading after the Thai company deferred an equity fundraising exercise due to volatility in the market.

Thai conglomerate Charoen Pokphand Group’s $10.6bn purchase of Tesco’s Asia business has been hailed as a “landmark” deal that will liven up the region’s loan market. Bankers are now openly debating how they can get in on a financing that will tap both international and domestic liquidity. Pan Yue reports.

Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

Goldman Sachs has announced a deal called Magenta CMBS to finance Thai conglomerate DTGO Corporation’s purchase of 17 regional hotels across the UK from Marathon Asset Management. The deal is the first CMBS linked to Sonia, with the commercial real estate market proving slower than consumer assets classes to switch from Libor.

Thailand’s Central Retail Corp has priced the country’s largest IPO near the top of the marketed range, netting Bt71bn ($2.3bn) by navigating a volatile stock market.

Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.

Thailand’s Central Retail Corp is on track to launch the country’s largest IPO, with bookbuilding for the deal set to open on January 20, according to a source familiar with the matter.

Thailand's PTT Exploration and Production Public Co made a quick return to the debt market on Thursday, selling a 10 year bond less than two months after closing a 40 year deal.

Thai Beverage is planning to spin off and list its brewery business in a deal that could raise up to $2.5bn, according to a source familiar with the matter.