Psalm picks three for 10 year bond issue worth up to $1bn

11 May 2009

Power Sector Assets & Liability Management Corp (Psalm), a unit of the Philippines’ National Power Corp, has mandated three banks to lead an international dollar bond issue worth as much as $1bn.

Psalm has hired Deutsche Bank, HSBC and Morgan Stanley to manage the deal, bankers said on Tuesday. The three banks refused to comment.

The company is aiming to raise as much as $1bn, EuroWeek reported in February, while local press reports said on Tuesday Psalm was planning a ...

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