First Metro plans return to Philippine peso bond market, maturity uncertain
Philippine investment bank First Metro Investment Corp plans to sell up to Ps7bn ($165.6m) of peso bonds in July, making its second offering in the domestic debt market in less than a year.
FMIC is considering selling either five year or seven year bonds, or a mix of the two, and will offer a premium of 62.5bp-100bp over the sovereign.
The initial size is set at Ps5bn, but the issuer has the option to raise the offering to Ps7bn in case
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