China

The Export-Import Bank of Korea looks set to price its M$1bn ($312m) debut ringgit-denominated bond today (Friday), after reversing an earlier decision to postpone the issue.

The Philippines completed its first issue of so-called paired warrants on Monday in an innovative deal designed to ease the impact of Basle II rules on the country’s sovereign yield curve.

National Australia Bank completed its second Samurai bond yesterday (Thursday), raising ¥90bn ($836m) over three and five years in the biggest deal of its kind for an Australian borrower.

A host of domestic issuers and one overseas investment bank launched Singapore dollar bonds this week as Asia’s domestic currency markets remained busy despite a renewed sell-off in global credit.

The Republic of the Philippines is set to complete its first issue of paired warrants next week, in an auction managed by Credit Suisse.

The Philippines’ National Food Authority, the state grain agency, auctioned 10 year bonds worth Ps8bn ($197m) on Wednesday to fund its operating expenses. It is the first time for three years that the NFA has sold bonds.

The export-Import Bank of Korea, the state-owned policy lender, is hoping to issue bonds in Malaysian ringgit for the first time as it continues to diversify its funding programme.

Kia motors Corp, the Korean car maker that was considering a US dollar deal earlier this month, is to issue short term notes worth W350bn ($368m). Kia said in a filing that it would sell the notes on January 30, indicating that they would carry a maturity of 13 months and a yield of 6.9%.

Indonesia is to auction Rph3tr ($318m) of bonds due 2023 and 2038 next week as part of its regular debt issuance programme. The government is planning to sell bonds with a maturity of July 15, 2038 as well as reopening an existing series due on July 15, 2023.

THe Republic of the Philippines is planning its first sale of government bonds to expatriate Filipino workers in a bid to ease the pressure of an appreciating peso on the money they send home.

Indofood, the world’s largest maker of potted instant noodles, plans to raise Rph1.5tr-Rph2tr ($159m-$212m) with a bond issue in March or April.

The Philippines is shifting the focus of its government borrowing further towards the local market in an effort to cool pressure on its currency, officials said in December.