Hot demand as Philippines taps 2032 for $500m at tiny premium

31 Jan 2008

The Philippines sold a $500m tap of its 2032 bond on Tuesday in a quick and successful deal that showed the Asian sovereign is still the darling of the emerging markets investor base.

Lead managers Credit Suisse and Deutsche Bank drew orders worth $4.6bn from 190 accounts in less than 12 hours, allowing the Philippines to tap its existing 2032s at only a tiny premium to its secondary curve. It is another impressive result for the fast-growing Philippines, adding to the ...

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