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Investors, issuers and bankers came together in April for the GlobalCapital/Crédit Agricole CIB covered bond roundtable to discuss the key factors facing the market over the next 12 months.

As one of the fastest growing economies in the G20, Indonesia is on the up. Having taken some difficult decisions after coming to power in 2015, Joko Widodo’s administration is reaping the rewards, with growth accelerating, a budget deficit below 3% and inflation tamed. This benign economic background has helped the Indonesian government become one of the most sophisticated sovereign borrowers in the international market. At GlobalCapital ’s roundtable in Jakarta in early April, hosted by Standard Chartered, leading bankers and issuers explored the impact of reforms to state-owned enterprises, potential US interest rate rises and changes to tax laws on the potential to create a deeper, more effective debt market.

Moody’s followed Standard & Poor’s in placing Brazil’s credit rating on negative outlook on Friday, but both agencies have reaffirmed Petrobras’ rating as analysts say they expect the state-owned oil company to gain ground on its sovereign parent.

Chinese steel producer Shougang Corporation has mandated banks for its inaugural euro bond, with roadshow set to begin on Wednesday.

Media Nusantara Citra has enlisted three lenders to syndicate a $200m loan that refinances a borrowing from 2014.

State Bank of India has hired a six-strong team of foreign and domestic firms to lead its up to Rp150bn ($2.3bn) capital raise, according to a banker on the mandate.

Adani Ports and Special Economic Zone is planning to raise up to $1.5bn via a domestic or international bond offering, and is also exploring a possible issuance of equity or convertible bonds.

Banks are competing for a position on the upcoming multi-billion-dollar IPO of China Tower Corp, the company responsible for the Mainland’s mobile phone towers, according to multiple ECM bankers in Hong Kong.

Four Chinese issuers have recently registered with the National Development and Reform Commission (NDRC) to sell offshore bonds, according to an update on its website last Friday.

A $400m borrowing for Malaysia's CIMB has had strong reception during general syndication, with over a dozen banks lining up.

Kookmin Bank became the first commercial lender from South Korea to sell a dollar bond into Taiwan last week, to a rousing reception from investors. The Formosa dollar debt market has remained largely untapped by Asian borrowers this year — but it is a fundraising avenue worth considering.

Goldman Sachs has recruited two bankers from Macquarie to run its Australian equities business, according to a memo that GlobalCapital Asia has seen.