Southeast Asia

The Asia DCM market opened to a slew of issuance on Tuesday with Singapore duo Olam International and PSA International, Korea National Oil Corp and Japanese lender Mizuho Financial Group looking to tie up their respective dollar transactions.

In this round-up, MSCI announced that its review of A-shares is underway, eight new institutional investors received RQFII licenses in 2016, Hong Kong saw further falls in RMB deposits and cross-border RMB trade settlement, and Bank of China saw two RMB internationalisation indices drop recently. Plus, a recap of our top stories this week.

Thai company PTTEP Offshore Investment has signed up four lenders for a $500m club loan.

Indonesian television broadcaster MNC Sky Vision is back in the loan market for a $275m borrowing with two lenders at the top. The company was recently slammed by a credit rating downgrade because of rising leverage and weakening performance.

Standard & Poor’s has cut its credit ratings on Standard Chartered group entities by one notch, becoming the last of the three international ratings agencies to do so over the past few months.

The vitality of the covered bond market was in no doubt over the first quarter of 2016 as volumes reached their highest level in five years.

Bank of the Philippine Islands (BPI) is poised to make its debut in the international syndicated loan market with a $250m fundraising.

First Myanmar Investment became the first firm to debut on the Yangon Stock Exchange last Friday — three months after the bourse was officially launched. The stock opened with a bang, jumping about 19% on the first trading day.

Citi has lost its vice-chairman for Asean corporate and investment banking Tracey Woon, who is joining UBS in the third quarter of 2016.

Wang Xiao Zhou, who heads up loan syndication and product portfolio management at Bank of China, is leaving for a new position with Bank of China Group Investment (BoCGI).

The Republic of the Philippines is getting ready to meet investors to provide them an update on recent economic developments and performance.

A $300m dual-tranche loan for a subsidiary of palm oil producer Golden-Agri Resources has wrapped up with just two new banks coming in.