Asean

In this round up, sluggish economic data indicates growth headwinds, the Philippines eyes a Panda bond in April and USD/CNH futures trading volumes on the Singapore Exchange (SGX) hits record level.

The Monetary Authority of Singapore (MAS) is considering making covered bonds eligible for repo, but Singapore dollar issuance would probably be needed, delegates at the Euromoney/ECBC Asian Covered Bond Forum heard this week. Domestic currency issuance would improve the resilience of Singapore’s banking system and potentially encourage other banks to set up programmes.

United Overseas Bank (UOB) became the first Singaporean issuer to sell a Panda bond this week, raising Rmb2bn ($298m) from a three year deal. Rebecca Feng reports.

United Overseas Bank has made its first appearance in the Panda bond market, selling a Rmb2bn ($297.8m) three year deal.

Bank of the Lao PDR has closed its four year borrowing led by Cathay United Bank, receiving commitments from 14 participants.

GLP has closed a Rmb3.3bn ($490m) nine year Panda bond, after scrapping an earlier plan to sell a dual-tranche deal.

Private equity firm Platinum Equity is about to close the senior syndication for a $165m borrowing to support its acquisition of Singapore’s PCI.

Indonesian real estate developer Lippo Karawaci is on track to raise $730m from a rights issue as part of a $1.01bn funding programme that it hopes will strengthen its balance sheet, boost liquidity and enable investment in its existing projects.

Indonesia's Mitra Pinasthika Mustika Finance has returned to the international loan market, seeking a dual-currency $200m borrowing.

Malaysia has closed the biggest sovereign Samurai bond in 18 years, raising ¥200bn ($1.79bn) from what could be just the first of many such deals to come.

Singapore-based internet company Sea has raised $1.35bn after boosting the size of a follow-on offering of American Depository Shares (ADS).

Goldman's Richdale joins KKR – JPM hires Wong from BofA – Fubon recruits from ANZ loans – Natixis names head of PB – Deutsche promotes two for sponsors – ABN opens shop in Australia – MSCI backs China A-shares