Philippine supply surges in dollar bond market

Philippines_Adobe_8July
By Morgan Davis
09 Jul 2020

Philippine issuers are flooding the market with dollar bonds, giving investors an unprecedented selection of deals from the country. There is plenty more to come. Morgan Davis reports.

This week, three Philippine borrowers publicly sold dollar bonds. BDO Unibank raised $600m from a 2.125% 2026 bond. Metropolitan Bank & Trust Co grabbed $500m from a 2.125% 2026 note, and International Container Terminal Services (ICTSI) sold a $300m 5% perpetual trade.

These deals followed a number of other Philippine borrowers ...

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