China

The Republic of the Philippines is to launch a new issue of 25 year bonds on Friday in a deal that will pre-fund part of next year’s offshore borrowing requirements.

Essar Group, the Indian conglomerate, is planning to raise as much as Rp45bn ($965m) in a deal that bankers hope will show the health of India’s corporate bond market.

Korean issuers are likely to focus on the Malaysian ringgit market once a proposed law allowing the issuance of Islamic bonds is passed later this year, according to a banker with knowledge of the region.

MISC, the shipping subsidiary of Malaysia’s state-owned oil company Petronas, raised M$1bn ($285m) late last week in a deal that showed credit spreads in Malaysia’s domestic bond market are still falling.

National Australia Bank and Suncorp-Metway both returned to their domestic bond market for funding this week, taking different approaches in an effort to attract the most investors.