Psalm looks to close landmark domestic ABS before investors leave for year-end
The Philippines’ Power Sector Assets and Liabilities Management Corp (Psalm) was aiming to close a trailblazing asset-backed securitisation by today (Friday) as it turned to domestic investors to help meet its heavy funding needs.
State-owned Psalm, charged with privatising the electricity industry, is aiming to launch what will be only the second and by far the biggest ABS deal in the Philippine peso market.
The likely size of the issue is not clear, but Psalm has lowered its target from the
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