Smooth sailing for Philippines’ sovereign outing

The Republic of the Philippines has wrapped up an SEC-registered transaction, raising $2bn from Asia’s first sovereign bond of the year, with $1.25bn going towards liability management. The new issuance made the country’s outstanding bonds look relatively attractive, said analysts.

  • By Addison Gong
  • 19 Jan 2018
The Philippines has been one of the most consistent sovereign borrowers for many years. Since 2014, it has been favouring the January window to woo investors. It raised $2bn in each of 20152016 and 2017. And with its Thursday deal, the country became the first sovereign issuer ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.01
2 Industrial and Commercial Bank of China (ICBC) 15.02
3 CITIC Securities 10.77
4 Agricultural Bank of China (ABC) 9.79
5 China CITIC Bank Corp 8.81

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 15,658.50 72 7.68%
2 Morgan Stanley 13,801.54 62 6.77%
3 Citi 13,609.47 87 6.67%
4 UBS 10,792.88 67 5.29%
5 China International Capital Corp Ltd 10,501.97 40 5.15%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 20,547.73 174 7.46%
2 Citi 20,227.76 130 7.35%
3 JPMorgan 13,591.21 83 4.94%
4 Bank of America Merrill Lynch 12,328.25 77 4.48%
5 Goldman Sachs 11,208.75 54 4.07%

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