tender

Chinese infant formula manufacturer is looking to make its debut international bond offering to partially finance the repurchase of its outstanding convertible debt.

The flagship property unit of Sinochem Group hopes to buy back its outstanding -- and relatively rare -- perpetual bond as part of a capital management exercise.

Both the issuer and investors appear to be happy as the Chinese property developer delivered a jumbo $1.5 billion exchangeable bond.

Meanwhile, the size of the new exchangeable bond into the same company was fixed at $750 million after good response from both existing and new investors.

The company reduces the EB issue to $332 million, but withdraws the consent solicitation which was seeking to make it easier to do a cleanup call.

The Philippine conglomerate says it will pay up to 107.75 per bond. The deadline is set for January 29 and its shares will be suspended from trading until then.

The Indian company receives bids for about 50% of the $150 million convertible bond issue, but rejects them all as a falling rupee adds to the buy-back cost.

Two subsidiaries of the Indonesian mobile operator Indosat launch separate and independent tender offers in combination with a new 10-year issue.

No further details on the size of the tender or the new issue are available, but the CB has about $630 million outstanding.