Indonesia

Indonesia Eximbank is asking banks for options to refinance a loan raised in 2013, with talks involving the issuance of a new loan or a bond.

Loans for ONGC Videsh and Saka Energi Indonesia have had commitments from banks, with the former likely to close at the end of this week.

Indonesia-based power producer Cikarang Listrindo is planning to launch the country's largest IPO for almost a year.

The Asia ex-Japan bond market finally saw some primary activity on Wednesday with the Republic of the Philippines set to be the first sovereign issuer of the year. The country launched a new 25 year bond and is giving investors the option to switch out of 16 outstanding deals at the same time.

A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has attracted commitments from just two lenders in syndication, with the deal due to close by the end of this week.

Indonesia is gearing up for its largest IPO in almost a year, with power producer Cikarang Listrindo eyeing a $300m listing on the Jakarta Stock Exchange in the first half of 2016.

Indonesian telecom giant XL Axiata is preparing a rights issue as it looks to pay back a $500m shareholder loan.

Lippo Karawaci has completed an early exchange offer to repurchase its outstanding notes as part of a debt management exercise. The result shows that the firm has come close to what it was expected to raise with the bond swap.

The Republic of Indonesia has chosen five banks to work on a dollar sukuk to be sold in the first quarter of the year.

Thin deals volume from Indonesia last year is expected to continue into 2016 because of pressure on commodities and unfavourable swap rates. But there might be some respite on the way when it comes to pricing loans for state-owned companies, writes Shruti Chaturvedi.

Indonesian oil and gas company Pertamina, which reset covenants on a 2015 loan, is speaking to relationship banks for a new borrowing. But its operations in the beleaguered upstream oil and gas sector could make it difficult to negotiate lower pricing, reckon bankers.

Lippo Karawaci has announced the minimum yield for a new dollar-denominated senior offering due 2023, as it aims to switch holders out of a 2019 bond into a longer four year deal.