Asean

Overseas Chinese Banking Corporation (OCBC) had adequate demand to print a €500m five year covered bond on Thursday, and though it was unable to reach the upper end of its size ambitions, it was able to issue the tightest Singaporean covered bond in euros.

MUFG Securities Asia has named Royal Bank of Scotland veteran Pierre Ferland as its new chief executive.

The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.

The Government of the Republic of Indonesia’s green sukuk is a game changer for the region, giving a boost to a green sovereign bond market that has so far had scant issuance globally.

United Overseas Bank issued its debut covered bond in sterling on Wednesday, and the first from a Singaporean bank. Despite being its maiden deal, UOB was able to match the spread of more established sterling issuers. At the same time, Overseas Chinese Banking Corporation (OCBC) has mandated for a euro covered bond benchmark.

Indonesian rupiah-denominated debt will be eligible for the Bloomberg Barclays Global Aggregate Bond Index for the first time from June 1.

VPBank Finance is tapping international loan market liquidity for an up to $200m three year facility, which has two lenders at the helm.

Singapore Exchange on Monday revealed that it would replace its Nifty products with suitable successors by August to ensure that investors could maintain exposure to Indian markets.

United Overseas Bank has mandated joint leads for a covered bond roadshow in the UK with a view to potentially issuing its sterling debut. Singapore peer DBS Bank undertook a roadshow in the UK two years ago but did not follow up with a deal.

Philippine food and beverage conglomerate San Miguel Pure Foods Co is planning to tap the local equity capital markets for up to $1.5bn, according to an exchange filing on Wednesday.

Singapore is set to host its first IPO from Bangladesh, with Summit Power looking to hit screens in early March, said bankers close to the deal.

Vingroup is considering the spin-off and listing of its residential business Vinhomes in a deal that could be worth around $1bn, according to a source familiar with the matter.