Philippines

Philippine lender BDO Unibank has sealed a rights issue worth Ps60bn ($1.2bn) in the largest ECM transaction in the country in nearly four years.

The Republic of the Philippines grabbed $2bn from investors Wednesday, after rolling out a new 25 year note with a tender offer for existing investors.

The Republic of the Philippines launched a 25 year dollar transaction Wednesday morning, returning to the market for its regular start of the year deal.

The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.

BDO Unibank has fixed the terms for its Ps60bn ($1.2bn) rights issue, marking a rare — and large — appearance in ECM from the Philippine lender.

A A$484.2m ($361.5m) five year facility to support Philippine company Universal Robina Corp’s acquisition of Snack Brands Australia has been allocated, with 17 new lenders coming in.

Indonesia’s move to pre-fund its 2017 financing requirements with a bond last week surprised the market. Views are mixed on whether it made the right decision but DCM bankers in the region hope other sovereigns will also look to make an early start on funding plans.

Shakey’s Pizza Asia Ventures raked in Ps3.5bn ($69.3m) through a Philippines IPO on Tuesday, attracting sturdy interest from long-only funds.

The Philippine subsidiary of US restaurant chain Shakey’s Pizza opened books on Thursday for an IPO that could raise Ps3.5bn ($70.1m).

Philippine fast food restaurant chain Jollibee Foods Corp (JFC) is planning to float its Vietnamese unit, according to a stock exchange filing on Monday.

Therma Power, part of Philippine company Aboitiz Power Corp, is accessing the offshore loan market for a $650m unsecured financing.

Philippine lender BDO Unibank issued its first dollar bond in four years on Monday, amid a busy day of primary issuance in Asia ex-Japan.