Thailand

Thailand’s state-owned PTT Exploration and Production Public Co ended a two-year hiatus from the offshore bond market this week with a $650m deal, taking advantage of the low rate environment to extend its maturity profile to 40 years.

TMB Bank Public Co has sealed a $400m Basel III-compliant additional tier one bond. The rarity of the Thai deal made price discovery tricky.

Insurance company FWD Group’s $1.8bn acquisition loan is set to close by the end of November, with two more banks still expected to join the syndicate group.

Siam Cement Group has set in motion a plan to list its packaging subsidiary, according to a filing with the Stock Exchange of Thailand.

Thailand-based S Hotels and Resorts has priced its IPO near the bottom end of the marketed range, raising Bt7.5bn ($247.9m).

Thailand’s S Hotels and Resorts is set to launch bookbuilding for its IPO next week and is looking to raise up to Bt7.9bn ($260m) from the deal.

Investors flocked to Thai Oil Public Co's 30 year bond this week, seizing the opportunity to get yield from a long-dated note.

Asset World Corp, the property and hospitality firm, has raised Bt48bn ($1.57bn) from Thailand’s largest IPO by a private company.

Strong investor appetite for Thai bank capital deals helped Kasikornbank beat expectations with its $800m Basel III-compliant tier two bond.

Thailand’s S Hotels and Resorts has begun meeting investors ahead of its planned IPO, which is set to raise around $200m.

Hong Kong-based Li & Fung and Thai state-owned PTT have kicked off their liability management programmes, and plan to support their tender offers with new bonds.

Thailand and Cambodia are looking to encourage cross-border equity offerings and issuance of depositary receipts, after signing a memorandum of understanding (MOU) on Tuesday.