Philippines

S&P upgraded the Philippines’ rating to BBB+ from BBB on April 30, as the sovereign conducted a roadshow for a proposed euro bond.

Philippine oil company Petron has received a strong response for its return to the offshore loan market, increasing the size of its deal to $800m.

In this round-up, former Bank of China chairman Chen Siqing has been moved to be chairman of Industrial and Commercial Bank of China, China’s gross domestic product (GDP) grew 6.4% and the first batch of funds keen to invest in Shanghai tech board listing have received approval to do so

SMC Global Power Holdings Corp (SMCGP) sold a rare perpetual bond on Tuesday, proving that investors still like the format and the rarity of a Philippines credit.

In this round-up, Chinese president Xi Jinping starts a five-day visit to Europe, the eighth and ninth rounds of trade talks are scheduled and local government bonds will soon be available at bank counters.

In this round up, sluggish economic data indicates growth headwinds, the Philippines eyes a Panda bond in April and USD/CNH futures trading volumes on the Singapore Exchange (SGX) hits record level.

Far East Horizon and Asian Development Bank added a bit of life to the dim sum bond market in February, raising Rmb740m ($110.4m) between them. Bankers think looming maturities could give them more business this year.

Philippine oil company Petron Corp has returned to the offshore loan market after a two year absence, picking a bigger lead group that has allowed it to achieve much tighter pricing.

Philippine-based PH Resorts Group (PHR) has opened bookbuilding for a potential Ps10.4bn ($198.8m) follow-on offering of common shares.

Philippine gaming company PH Resorts Group Holdings has received the go-ahead from the Securities and Exchange Commission to issue Ps18.5bn ($351.92m) of shares in a follow-on offering.

Ping An Real Estate seeks $300m — ICTSI tests appetite for €260m — Huifeng Petrochemical debuts with $200m

AC Energy raised $225m from the first public green dollar bond from the Philippines, a deal in line with its renewable energy-related ambitions.