Southeast Asia

The Asian Development Bank broke a decade-long absence from China’s domestic market to price a Rmb2bn ($307m) Panda bond at a record low spread this week. Its assistant treasurer told GlobalCapital that the multilateral development bank is open to selling longer dated and green renminbi-denominated deals. Addison Gong reports.

While European banks have been ducking the covered bond market in favour of central bank liquidity, issuance from the asset class’s newer markets has also been light, but for different reasons. Attention is now on South Korea and Japan, which are seen as the most promising sources of new issuance, according to a senior S&P ratings official.

Singapore's Temasek Holdings and its wholly owned Azalea Asset Management sold the fourth iteration of the Astrea collateralised fund obligation (CFO) this week. They raised more than $450m from the institutional portion of the deal, using a tried-and-tested structure.

The Asian Development Bank made a rare outing in China’s interbank market this week. The Rmb2bn ($307m) bond, priced significantly below the onshore benchmark, ended the multilateral development bank’s absence from the domestic Chinese market for over a decade.

The Asian Development Bank is marketing a five year renminbi-denominated bond, as it looks to raise Rmb2bn ($307m) from its first outing in the onshore China market in over a decade.

Ho Chi Minh City Development Joint Stock Commercial Bank has closed its debut offshore borrowing at $71m.

A consortium led by Malaysia’s TTL Energy and Engie Asia Pacific, the regional arm of French energy firm Engie, has raised a RM342m ($84m) green loan to support the development of a solar plant in Malaysia.

Hang Seng rejigs benchmark index – DBS and HSBC make changes in Malaysia

Huadong Medicine seeks $150m debut — Indomobil revs up $200m club — PLN delays loan — Jih Sun plans April syndication

Development Bank of the Philippines (DBP) ended a 10-year absence from the dollar bond market for a $300m deal on Tuesday, managing to woo investors with just a small premium.

DBS Group Holdings navigated choppy market conditions for its first tier two dollar bond in more than two years on Monday, using its strong credentials and rarity value to its advantage.

Indonesian motor vehicle financing company Indomobil Finance Indonesia is sounding out the market for a loan return. It has opted for a club deal this time around.