Asean

Deutsche Bank and Australia and New Zealand Bank have lost senior members of their teams in Asia.

The Asia ex-Japan primary bond market got off to a blazing restart after the Chinese New Year holidays with the Republic of the Philippines raising $2bn from a popular accelerated one-day switch plus new money transaction.

Loans for ONGC Videsh and Saka Energi Indonesia have had commitments from banks, with the former likely to close at the end of this week.

Singapore-based wastewater treatment company Hyflux has returned to the loan market for a $300m triple currency refinancing.

The Asia ex-Japan bond market finally saw some primary activity on Wednesday with the Republic of the Philippines set to be the first sovereign issuer of the year. The country launched a new 25 year bond and is giving investors the option to switch out of 16 outstanding deals at the same time.

The covered bond market could see the second Singaporean deal soon, with United Overseas Bank (UOB) mandating leads for a series of European investor meetings that could result in its first deal.

A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has attracted commitments from just two lenders in syndication, with the deal due to close by the end of this week.

Indonesia is gearing up for its largest IPO in almost a year, with power producer Cikarang Listrindo eyeing a $300m listing on the Jakarta Stock Exchange in the first half of 2016.

Ranhill Holdings remains undecided on when to open books for its MR807.5m ($195.94m) Malaysian IPO and is taking a day-by-day approach on the launch due to volatile market conditions, said sources.

Eddie Listorti, global co-head of fixed income, currencies and commodities at Australia and New Zealand Bank, has stepped down to set up his own commodities-focused fund, according to an internal memo obtained by GlobalCapital Asia.

Baring Private Equity Asia has tapped five banks to helm a $400m loan to back its bid for Singapore-based Interplex Holdings, with the deal to open into general syndication shortly.

A group of banks is firming up a $400m loan to back Baring Private Equity Asia’s bid for precision mechanical parts maker Interplex Holdings.