Asean

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

The Monetary Authority of Singapore (MAS) has published a substantially revised set of data on Singapore’s RMB deposit pool, showing RMB liquidity was lower by as much as 27% than previously stated.

Indonesian oil and gas company Pertamina, which reset covenants on a 2015 loan, is speaking to relationship banks for a new borrowing. But its operations in the beleaguered upstream oil and gas sector could make it difficult to negotiate lower pricing, reckon bankers.

RBS's former head of Asia Pacific loan markets, Aditya Agarwal, joined Maybank on Monday as the regional head of loan syndication, according to sources.

Lippo Karawaci has announced the minimum yield for a new dollar-denominated senior offering due 2023, as it aims to switch holders out of a 2019 bond into a longer four year deal.

Thailand’s Ministry of Finance has given approval to four foreign institutions to issue baht-denominated bonds by September 30.

Singapore's Housing Development Board returned to the domestic market last week, raising S$1bn ($700m) from a deal that showcased the issuer’s strong credentials among Singapore dollar bond investors.

Maybank has hired Naguib Hussin from CLSA for its equity capital markets desk in Malaysia. He replaces Norly Khalim, who has transferred to another department within the Malaysian lender.

Korea Exchange has put together a group of specialists to help attract blue chip companies from Indonesia and Vietnam to list in South Korea.

Waste to energy firm Jinjiang Environmental is planning an IPO in Singapore to raise up to $500m in the first half of the year, according to sources close to the transaction.

Barclays beat a hasty retreat this week from the bulk of its investment banking operations in Asia, shuttering offices in multiple countries and slashing hundreds of jobs amid a wider global cull in costs and personnel. It did not pull any punches, with the cuts stretching across the equities, loans and bonds products. John Loh reports.

A $300m three year loan for Development Bank of the Philippines (DBP) has gone into general syndication via three mandated lead arrangers and bookrunners.