Philippines Warrant Signals Way Around EM Capital Requirements

29 Feb 2008

The Philippine government has launched a novel debt warrant and market watchers are expecting other emerging-market sovereigns to follow suit.

The Philippine government has launched a novel debt warrant and market watchers are expecting other emerging-market sovereigns to follow suit. The structured debt instrument allows investors in the event of a default to exchange foreign currency Philippine bonds for 10-year peso-denominated treasury bonds. The move is aimed at ...

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