Indonesia

BDO Unibank has fixed the terms for its Ps60bn ($1.2bn) rights issue, marking a rare — and large — appearance in ECM from the Philippine lender.

Fitch has revised Indonesia’s outlook to positive from stable, citing a combination of factors including low government debt burden, favourable growth prospects and limited exposure to banking sector risks.

CT Corp company Trans Retail is in discussions with several banks for a financing of $550m-$750m. The Indonesian borrower is yet to firm up the size of the facility, as it is still chalking out its capital expenditure plans.

Indonesian conglomerate Astra International is in the process of putting together a group of lenders to supply its latest $200m loan.

Indonesia’s move to pre-fund its 2017 financing requirements with a bond last week surprised the market. Views are mixed on whether it made the right decision but DCM bankers in the region hope other sovereigns will also look to make an early start on funding plans.

Bank Negara Indonesia is wrapping up a $750m borrowing with nine mandated lead arrangers and bookrunners, returning to the loan market after a two year break. As liquidity is still abundant, the borrower is raising its biggest syndicated deal, with bankers saying that government backed names from the country will remain popular. Shruti Chaturvedi reports.

The syndicate that supplied a $405m loan on which Royal Industries defaulted, is waiting for one last bank’s go-ahead for the borrower’s waiver request. All lenders must sign off the changes before they can be implemented.

The Republic of Indonesia re-opened G3 sovereign bonds for emerging market issuers last week with a $3bn triple-trancher — the second December in a row that it has made an early start on its funding plans. While its timing has come under criticism from some market watchers, the country made a savvy move given the circumstances.

Nine banks have banded together to arrange a $750m dual tranche facility for Bank Negara Indonesia (BNI).

The Republic of Indonesia has reopened the G3 emerging market sovereign bond market, printing the first deal since the US election and raising $3bn in a triple tranche issue on December 1.

The Republic of Indonesia popped into the market Thursday morning, kicking off December with a new triple tranche dollar deal, the second year in a row it has hit the bond market in the last month of the year.

Wavin Duta Jaya, one of Indonesia’s largest makers of PVC pipes, is looking to list next year, having hired a trio of bookrunners for the transaction.