Philippines goes larger on Samurai return

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By Addison Gong
09 Aug 2018

The Republic of the Philippines attracted more investor demand than expected on its return after eight years to the Japanese yen bond market. Its outstanding dollar bonds outperformed in secondary trading as the new deal was being marketed.

The southeast Asian sovereign last issued a Samurai in February 2010 when it printed ¥100bn of 2.32% 2020 notes with a guarantee from Japan Bank for International Cooperation. Its most recent yen bond sale on a standalone basis was 20 years ago. 

Despite its long absence from the market, ...

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