Philippines transforms market attitude with 25 year triumph after downgrade

28 Jan 2005

The Republic of the Philippines stormed the Asian debt capital markets this week with a remarkably successful $1.5bn 25 year bond that combined boldness with opportune timing.

The issue is the Philippines' largest ever and takes the sovereign well on its way towards its external funding target of $3bn-$3.5bn for 2005.

With some bankers at leads Citigroup, Deutsche Bank and UBS claiming the deal as a turnaround in investors' relations with Asia's ...

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