Pan Brothers hit with downgrade on looming loan refi pressure
Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time in the past three months as a result of refinancing pressure.
State-owned NHAI mandates for Rp50bn InvIT
The National Highways Authority of India has picked banks for the potential Rp50bn ($680.5m) IPO of an infrastructure investment trust, according to a source close to the deal.
NWD cements ESG credentials with sustainability-linked bond debut
New World Development Co printed Asia ex-Japan’s first sustainability-linked bond last week, raising $200m from the transaction. The Hong Kong-based property developer’s deputy chief financial officer and its head of sustainability spoke to GlobalCapital Asia on Monday about why the firm ventured into this asset class and the challenges it faced.
Tencent-backed Linklogis eyes Hong Kong listing
Linklogis, a technology-based supply chain finance company, is planning to float in Hong Kong, and has filed a draft IPO prospectus with the city’s stock exchange.
CP Group mulls bond/loan combo for Tesco Asia debt takeout
Thai conglomerate Charoen Pokphand Group is considering tapping 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.
Chicken producer Widodo Makmur hatches IPO plan
Indonesian chicken producer Widodo Makmur Unggas is aiming to raise up to Rph1.18tr ($84m) from the country’s largest IPO in over a year.
UBS hires Granger to lead SEA M&A team
UBS has appointed Axel Granger as head of M&A and head of financial sponsors for southeast Asia, a newly created position at the bank.
Fortune Oil seeks $400m for 2018 deal refi
Hong Kong-based energy firm Fortune Oil has returned to the loan market. It is seeking $400m-equivalent to refinance an old borrowing sealed in 2018.
Easing of GCC blockade on Qatar positive but not ‘ground-breaking’ for cap markets
The blockade imposed on Qatar by its Gulf neighbours in 2017 was lifted this week, with a gradual easing of all restrictions expected in the coming months. However, bankers and investors are skeptical that the move’s “short-lived” effects will have a significant impact on regional capital markets, which have demonstrated resilience in recent years.
China policy and markets round-up: PBoC unveils 2021 goals, Beijing extends SME support, Trump bans Alipay, WeChat Pay
In this round-up, the central bank sets working goals for 2021, the Chinese government extends its policy to support small and micro-sized enterprises, and the US bans eight Mainland-based applications including the popular Alipay and WeChat Pay.