Asean

Bank of the Philippine Islands is preparing to issue a chunk of new stock through a rights offer, with a view to raise up to Ps50bn ($985.5m).

Bank of Tokyo-Mitsubishi UFJ has appointed Marie Diana Lynn Coronel-Singson as head of global corporate banking for its Manila branch in the Philippines, effective Wednesday.

State-owned energy conglomerate Vietnam National Oil and Gas Group (PetroVietnam) is preparing to launch IPOs for three of its subsidiaries this month as part of its privatisation plan, potentially raising a combined D12.31tr ($542.9m).

Trafigura’s Singaporean entity Trafigura Pte launched a $4.5bn revolving credit facility on Monday to refinance two loans taken out over the last two years.

Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

The Indonesia Stock Exchange has been evacuated after a part of the building, thought to be a floor, collapsed on Monday.

In the latest Clawback, columnist Philippe Espinasse puts the Singapore Exchange's proposal on quarterly reporting by companies under the microscope.

Thailand’s Osotspa is planning a flotation of up to $400m on the domestic bourse this year, said bankers working on the trade.

A $301m-equivalent five year refinancing for Trans Media Corpora has been launched into general syndication by five mandated lead arrangers and bookrunners.

Philippine oil company Petron Corp seized $500m from a tightly priced perpetual bond on January 11, winning over investors with a step-up structure.

The Chinese government contemplates RMB-denominated IPOs for mainland companies fundraising for Belt and Road projects, foreign ownership of Chinese bonds goes up in December, and premier Li Keqiang indicates the economy grew by 6.9% in 2017.

International Container Terminal Services, a Philippine port operator, sold a fixed-for-life perpetual bond on Wednesday, braving the market despite US Treasury volatility shaking investors’ nerves.