China

THE PHILIPPINES is preparing to issue warrants linked to up to $6bn of peso denominated bonds in January, after the country’s central bank approved the issue last weekend.

FOREIGN governments may soon be able to issue renminbi bonds in China, according to comments reported last weekend from China’s finance minister Xie Xuren.

China’s finance ministry will sell Rmb750bn ($101bn) of 15 year bonds on Monday to complete the capitalisation of the country’s new sovereign investment agency, known as China Investment Corp. A smaller auction will be held later in the week.

THE CENTRAL American Bank for Economic Integration, the A-/BBB+ rated multilateral development bank, launched its first domestic Thai bond late last Friday (November 30), raising Bt2.374bn ($77m) in a deal arranged by Citigroup.

VIETNAM National Coal Mineral Industries Group (Vinacomin), Vietnam’s largest mining company, priced a D1.5tr ($95m) domestic bond late last Friday (November 30). The lead manager was Citigroup.

VIETNAM National Coal Mineral Industries Group, or Vinacomin, Vietnam’s largest mining company, is to press ahead with its debut dong bond despite rising yields that have derailed recent government debt sales in the country’s fledgling bond market.

General Electric Capital Corporation’s ¥87bn ($807m) three tranche Samurai, launched this week via Mitsubishi UFJ and Mizuho, was the first deal to use the new structure formulated to allow US issuers to access the Samurai market without fear of withholding tax.

OVERSEA-CHINESE Banking Corp, Singapore’s third biggest bank, completed a S$225m ($155m) lower tier two issue on Wednesday, raising slightly more than initially expected in a self-arranged deal.

BANCO de Oro-EPCI, the second largest bank in the Philippines, set a landmark in the country’s capital markets this week by issuing the largest bank capital security in Philippine pesos.

CITIGROUP launched a 10 year bond in the Hong Kong dollar market this week, demonstrating the continuing appeal of Asia’s local markets despite mounting turmoil elsewhere.

Poland this week set a new yardstick for central European issuers in the Samurai bond market by issuing the largest 30 year Samurai in history. At ¥50bn, the transaction beats the previous record set by European Investment Bank, which offered a ¥38bn bond in 2003.