Asean

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.

Philippine conglomerate Ayala Corp is gauging investor interest in a debut fixed for life perpetual, which would be the first international corporate issuance from the country this year.

ICE Futures Singapore, the energy, metals and forex derivatives exchange owned by Intercontinental Exchange (ICE), has admitted its fifth member, SinoPac Futures, based in Taiwan.

The Philippines’ BDO Unibank is back in the dollar debt market less than a year after its last transaction, marking just the second offshore deal from the island nation this year.

Myanmar’s equity capital market is set for fresh impetus as a handful of companies line up IPOs, with a member of the regulatory body predicting it will be the shot in the arm needed for a market that has slipped into obscurity this year. But although more issuers will be welcome, it is a change in the investor base that is really needed.

BDO Unibank has mandated firms for a proposed dollar bond, marking a rare international debt offering from the Philippines this year.

Marlin Enterprise is making a quick comeback to the loan market to refinance a borrowing from November 2015. It is offering lower returns for a deal with a longer maturity.

Former Barclays banker Hardik Dalal started in a newly created executive director position at MUFG Securities Asia on Monday.

Two Indonesian borrowers have managed to increase short-dated dollar loans after impressive demand in syndication.

Cromwell European Real Estate Investment Trust was set to begin investor education for a potential S$1.6bn ($1.2bn) Singapore IPO this week, according to a source close to the deal.

Indonesian textile company Sri Rejeki Isman (Sritex) has approached offshore banks for a $100m three year syndicated loan.