Asean

Long dated issuance returned to EM primary bond markets in force this week as DCM bankers said issuers were seeing the latest fall in US Treasury yields as a sign that they should accelerate funding plans. Although several investors remain cautious on the prospects for rates markets, the weight of cash to be put to work is set to keep funding conditions attractive for EM borrowers, writes Mariam Meskin and Oliver West.

Philippine property developer Filinvest Land has set the final price for its real estate investment trust (Reit) IPO.

The Republic of Indonesia veered off its usual funding plan by heading into the bond market this week with a dollar-euro combination trade, at a time when it is feeling the brunt of a big spike in Covid-19 cases. But the stability in secondary market trading and a fall in US Treasuries offered the sovereign an opportunity to top up its coffers, writes Morgan Davis.

Hogan Lovells has added Biswajit Chatterjee as a partner for its India operations.

Ashurst has hired a new partner, Robert Child, to boost its Asia restructuring and insolvency business.

The Vietnam consumer finance subsidiary of Korea’s Mirae Asset Financial Group has become the latest firm to join a flurry of Vietnamese financial institutions in the loan market.

Bukalapak, an Indonesian e-commerce company, has closed the orderbook for its IPO and is expected to price the deal at the top of the marketed range, according to a source familiar with the matter.

Del Monte Philippines kicked off pre-deal investor education for its IPO on Tuesday, according to a source familiar with the matter.

The Philippines' treasury department is readying a dollar bond offering for retail investors as part of its efforts to shore up cash for the government's recovery and resilience programmes.

Bukalapak has met with a wave of demand for its Rph21.9tr ($1.5bn) IPO, set to be Indonesia's largest listing, according to a source familiar with the matter.

State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is in the market for a $790m loan, its largest offshore facility yet.

Minor International Public Co, a Thai hotel operator, closed a $300m transaction on Monday as part of a liability management exercise.