Fitch Ratings

Indonesian reinsurer Marein to raise $41m from rights issue

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Maskapai Reinsurance Indonesia (Marein) has announced its plan to raise $41 million from a rights offering in 2017. The company said it will sell up to 130 million new shares by June next year to strengthen its capital, according to local media reports. Merein along with Indonesia’s only other three… Read more »

Indonesia: Sritex to buyback $180m debt from bondholder

Indonesia textile firm PT Sri Rejeki Isman Tbk (Sritex) through its unit Golden Legacy Pte Ltd, announced the settlement of cash tender the senior debt approximately US$180.7 million of the $270 million aggregate principal amount.

Fertilizer firm Pupuk Indonesia to issue $735.3m in bonds

PT Pupuk Indonesia Holding Company (PIHC), a state owned fertilizer company, has unveiled its plan to raise Rp10 trillion ($735.29 million) through issuing bonds in the first quarter of 2017. Portion of the bonds proceeds will be used to refinance the company’s debts.

Kuwait Finance House may exit Malaysia, focus on Turkey: Report

Kuwait Finance House (KFH) is considering a sale of assets including its Malaysia unit, as the Islamic lender looks for a leaner structure by expanding its Turkey franchise, a report said. KFH is reportedly restructuring activities ahead of a planned divestment by its largest shareholder, the Kuwait Investment Authority (KIA)…. Read more »

Vietcombank purchases $1b Vietnam government bonds

The Bank for Foreign Trade of Vietnam, or Vietcombank, has purchased $1 billion government bonds from the local Ministry of Finance, the Saigon Times Online reported. This is the first time the Vietnamese government has sold its bonds in such a large amount and in foreign currency to a commercial… Read more »