Asean

The Republic of Indonesia sold its first 12 year euro note as part of a dual-tranche return to the European bond market on Tuesday. It had to pay up over its dollar curve, but the elevated cost proved no hardship as the sovereign is keen to make its presence felt among European investors.

Indonesia returned to euro-denominated bonds on Tuesday. It will still have to pay up over its dollar curve, according to EM bankers, despite the low yields in euros.

The Philippines-based arm of oil and gas giant Royal Dutch Shell has selected two firms to lead its potential IPO in the country, according to a source familiar with the matter.

Maybank has rejigged its top ranks with fresh appointments in its global banking and Islamic banking units, as well as the chief financial officer position, the Malaysian bank said.

Singapore's sovereign investment arm Temasek Holdings is making headlines in the capital markets once again, gauging investor demand for its $1.1bn Astrea III securitization. Not only is this one of the rare internationally marketed securitizations out of Asia, it is also one of the very few globally to be backed with cashflows generated by private equity funds.

Cheng Loong Corp, a paper manufacturer, is in the market for a loan related to its Vietnam operations.

Frasers Centrepoint has covered its potential S$903m ($663.3m) Singapore real estate investment trust IPO after the first day of bookbuilding, according to a source close to the deal.

Property developer Frasers Centrepoint has launched bookbuilding for the IPO of a Singapore real estate investment trust backed by its Australian properties, with the deal set to raise up to S$903m ($655.8m).

Commodities trader Noble Group has decided to raise about S$719m ($522m) through a rights issue as it seeks ways to pay off outstanding debt.

Efforts to deepen RMB liquidity in offshore markets have struggled so far, despite the currency’s growing popularity for trade and investment purposes. Yet, it is clear that the success of the currency on a global scale will rely on deepening liquidity and the financial infrastructure that supports it.

Cemex Holdings Philippines has begun gauging investor interest in its IPO, which could raise up to $500m, sources close to the deal told GlobalCapital Asia.

The southeast Asian high yield market saw some long overdue activity this week, with Indonesia’s Sri Rejeki Isman raising $350m from a liability management exercise. With volatility and low commodities prices forcing high yield issuers from the region to stay away from the market this year, Sritex’s success has now flung open the door to new issuance, writes Narae Kim.