Philippines marks return with $2bn blowout

Philippines flat_resized_230
By Rev Hui
18 Feb 2016

The Asia ex-Japan primary bond market got off to a blazing restart after the Chinese New Year holidays with the Republic of the Philippines raising $2bn from a popular accelerated one-day switch plus new money transaction.

The deal was an exact replica of one executed in January 2015 when the Philippines raised $2bn via a one-day tender offer that included a portion of the bonds being opened to new investors.

The Baa2/BBB/BBB- sovereign did not have a specific timeframe to launch but it was ...

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