Southeast Asia

In this round up, trade tension carried on intensifying as both sides rolled out more punitive moves, the People’s Bank of China and the Monetary Authority of Singapore signed a three year currency swap agreement and April’s industrial production and retail sales growth declined.

AAA Oils and Fats (AAAOF), a trading subsidiary of palm oil processor and distributor Apical Group, is seeking to amend and extend the revolving credit facility tranche of a $800m borrowing from 2017.

The Republic of the Philippines made a triumphant return to the Panda bond market this week, raising Rmb2.5bn ($363m) from a deal that was tighter and larger than its debut last year. Rebecca Feng reports.

Frasers Centrepoint Asset Management, manager of Frasers Centrepoint Trust, is planning a sale of up to S$436.8m ($308m) in new trust units.

Two southeast Asian companies, Prasac Microfinance Institution and Perusahaan Listrik Negara (PLN), are preparing new offshore borrowings.

Union Bank of the Philippines has returned to the offshore loan market, having been absent for more than 20 years.

The Export-Import Bank of Thailand played to investors’ need for diversity on Wednesday, marketing a $300m-capped transaction at a very tight rate.

Cambodia’s Prasac Microfinance Institution is in talks with two banks for its offshore loan comeback.

Indonesian power company Perusahaan Listrik Negara has returned to the offshore market seeking a $1bn borrowing.

Export-Import Bank of Malaysia is tapping the offshore loan market for a $300m Islamic borrowing.

Long-dated dollar bonds issued by Indonesian companies have been taking a beating in the secondary market, with the country's high yield sector also expected to suffer from the negative impact of an ongoing trade war between two of the world's biggest economies.

The Republic of the Philippines returned to the euro bond market on Thursday, after a more than 10 year hiatus.