Asean

Niche players see MiFID II's research rules as an opportunity to win market share.

Philippine conglomerate Ayala Corp is set for a dollar bond comeback as it markets a fixed-for-life deal, bringing to an end a 14-year absence from the international debt market.

United Overseas Bank (China) has signed a memorandum of understanding with China Chongqing International Economic and Technical Cooperation Group Corp (CICET) to support the latter's business expansion into ASEAN.

Adira Dinamika Multi Finance has signed up lenders to a $250m borrowing, following a good run in general syndication that allowed the company to hike the loan.

Mapletree Logistics Trust will fund its acquisition of a Hong Kong warehouse with a S$640m ($471.5m) dual tranche equity raise, following in the footsteps of its sister unit last year, as well as with debt.

Steel Pipe Industry of Indonesia (Spindo) is courting investors in Asia and Europe this week, in pursuit of its first international dollar bond.

The Singapore-based arm of IDFC Securities has appointed a chief executive officer, a newly created position after it obtained a capital markets services licence for the city-state.

Manulife US Real Estate Investment Trust is looking to raise $208m from a rights offering to finance its acquisition of an office building in New Jersey.

Australia’s Westpac Banking Corp has hired an experienced economist to head up its macro strategy team for Asia.

China SCE Property Holdings scooped up HK$1.6bn ($204.5m) from an overnight block on Thursday that was timed to perfection, taking advantage of a share price rally to its highest point for the year.

BDO Unibank set a new record on Wednesday with a $700m bond, the largest dollar deal ever from a bank in the Philippines and a rare transaction from the island nation this year. Although few expect a rush of Philippine credits in the dollar market as a result, there is some hope next year will set a new pace. Morgan Davis reports.

TOA Paint will start sounding out investors for its up to $400m IPO in Thailand next week, said a banker on the deal.