Asean

After months of anticipation, the Philippines is finally planning to come to the Panda bond market on March 20 for a Rmb1.46bn ($230m) three year deal.

The Singapore Exchange is firing shots at the Hong Kong Stock Exchange once again to lure IPO-hopefuls, this time over the city’s ever closer political relationship with China. But Hong Kong can boast some clear advantages over its rival.

Solusi Tunas Pratama is set to begin marketing a new $590m-equivalent financing in dollars and rupiah to retail lenders, said bankers close to the trade.

Indonesian coal company Toba Bara Sejahtra culled its debut dollar bond on Monday, as turbulent markets and new domestic rules around caps on coal prices put investors in risk-off mode.

Philippine real estate developer DoubleDragon Properties Corp is looking to raise Ps7.5bn ($144m) through a follow-on offering of shares.

Four Asian issuers began marketing dollar deals on Monday, as a number of others started testing buy-side appetite through roadshows. But borrowers will have to temper their expectations on size and price, faced with a choppy market backdrop.

The Philippines’ Rizal Commercial Banking Corp (RCBC) found tepid investor demand for its dollar transaction on Thursday, but managed to raise $300m from the bond.

Temasek Holdings made a splash in the block market this week, raising W1.07tr ($1bn) with a pair of overnight trades in South Korean pharmaceutical company Celltrion and its distribution arm Celltrion Healthcare — an approach that was in line with the Singapore sovereign wealth fund’s strategy to rebalance its portfolio. Jonathan Breen reports.

Chinese outlet mall trust Sasseur Reit has kicked off a fixed price bookbuilding for its S$396m ($301.3m) Singapore IPO, placing nearly half the deal with cornerstone investors.

Oversea-Chinese Banking Corp issued a five year sterling floating rate bond on Wednesday but was unable to match the size or spread of United Overseas Bank, which recently issued the first Singaporean covered bond in sterling.

Philippine property developer DM Wenceslao & Associates has laid the groundwork for an IPO of up to Ps15.6bn ($300m), filing a draft prospectus on Tuesday.

Société Générale has promoted Raj Malhotra to the position of head of debt capital markets for Asia Pacific, according to a press release on Wednesday.