Citi

Indonesia-based power producer Cikarang Listrindo is planning to launch the country's largest IPO for almost a year.

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.

HCL Technologies is preparing to launch a $1bn float in the US, which would make it the first Indian company to list there in more than two years.

Romania is offering a 20bp new issue premium on taps of its euro-denominated 2025 and 2035 bonds, according to a lead manager on the trade.

As Solera Holdings began on Tuesday in New York the last leg of its $2bn bond roadshow, investors in the US voiced their surprise at how negative some of its European counterparts remain about the success of the deal.

Nordic Investment Bank is preparing a three year dollar benchmark, following a KfW five year deal that had to brave a backdrop of negative swap spreads.

Investors have only been offered a tap of a Bahrain bond in the CEEMEA primary market this week so far, but it has been far from quiet as other events and people moves in EM caught the eye.

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.

By the second day of Saipem’s auction of its unsold rights, all of them had been sold to investors — but with the share price still 3.3% below the subscription price at Thursday's close, the underwriters may yet have to buy up to €427m of stock.

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.