Asean

Two southeast Asian companies, Prasac Microfinance Institution and Perusahaan Listrik Negara (PLN), are preparing new offshore borrowings.

Union Bank of the Philippines has returned to the offshore loan market, having been absent for more than 20 years.

The Export-Import Bank of Thailand played to investors’ need for diversity on Wednesday, marketing a $300m-capped transaction at a very tight rate.

Cambodia’s Prasac Microfinance Institution is in talks with two banks for its offshore loan comeback.

Indonesian power company Perusahaan Listrik Negara has returned to the offshore market seeking a $1bn borrowing.

Export-Import Bank of Malaysia is tapping the offshore loan market for a $300m Islamic borrowing.

Long-dated dollar bonds issued by Indonesian companies have been taking a beating in the secondary market, with the country's high yield sector also expected to suffer from the negative impact of an ongoing trade war between two of the world's biggest economies.

The Republic of the Philippines returned to the euro bond market on Thursday, after a more than 10 year hiatus.

Eagle Hospitality Trust extended bookbuilding for its Singapore IPO twice because of market jitters following US president Donald Trump’s tweet this week about Chinese trade tariffs, according to a source close to the deal.

With South Korea and the Philippines heading to euros for new bond transactions, more issuers from Asia should take courage and consider funding in the needlessly neglected currency.

Eagle Hospitality Trust has cut the floor of the initial price guidance for its Singapore IPO, hiking up the yield for investors while delaying the end of its roadshow, according to a source close to the deal.

Malaysian poultry producer Leong Hup International has closed its books for a long-anticipated MR1.18bn ($285m) IPO, which was more than ten times subscribed.