Philippines

A $300m three year loan for Development Bank of the Philippines (DBP) has received commitments from 15 lenders.

The Asian Development Bank (ADB) has backed the issuance of the first climate bond in the Philippines, providing a partial guarantee to AboitizPower Corp’s notes.

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.

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.

Philippine homebuilder Vista Land & Lifescapes opted to tap its outstanding bond rather than sell a new deal on Wednesday due to challenging market conditions. Although pricing wasn’t as tight as expected, offshore investors were still keen due to its scarcity value and a lack of other primary supply.

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

A $300m three year loan for Development Bank of the Philippines (DBP) has gone into general syndication via three mandated lead arrangers and bookrunners.

The Republic of the Philippines plans to execute a $2bn deal in the first half of the year, consisting of a bond swap to extend maturities and a new transaction as part of its ongoing liability management efforts.

Development Bank of the Philippines (DBP) has opened a $300m three year loan to retail participants, having picked the mandated lead arrangers and bookrunners in mid 2015.

January kicked off with China front and centre as the upheaval in its stock market caused indices across the globe to tumble. South and southeast Asia did not escape unscathed but the chances are that when markets stabilise, investors will be eager for equity issuance from the region.

China Nonferrous Metal Mining and Vista Land & Lifescapes are meeting investors ahead of their respective dollar offerings, while Hangzhou Hikvision Digital Technology is set to gauge interest in Europe for a euro-denominated deal.

The Republic of the Philippines is interested in selling a Panda bond in China's onshore debt market for the first time in 2016.