Philippines

The Asian Development Bank broke a decade-long absence from China’s domestic market to price a Rmb2bn ($307m) Panda bond at a record low spread this week. Its assistant treasurer told GlobalCapital that the multilateral development bank is open to selling longer dated and green renminbi-denominated deals. Addison Gong reports.

The Asian Development Bank made a rare outing in China’s interbank market this week. The Rmb2bn ($307m) bond, priced significantly below the onshore benchmark, ended the multilateral development bank’s absence from the domestic Chinese market for over a decade.

The Asian Development Bank is marketing a five year renminbi-denominated bond, as it looks to raise Rmb2bn ($307m) from its first outing in the onshore China market in over a decade.

Development Bank of the Philippines (DBP) ended a 10-year absence from the dollar bond market for a $300m deal on Tuesday, managing to woo investors with just a small premium.

Philippines’ SMC Global Power Holdings, the power unit of conglomerate San Miguel Corp, has returned to the loan market for $200m.

The Asian Development Bank (ADB) has hired banks to arrange a roadshow for its first Panda bond in over a decade, to be launched after Chinese New Year.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.

The Republic of the Philippines sold its largest international bond in more than a decade this week, raising $2.75bn from a deal that received strong support from investors confident about the country’s control of Covid, and its outlook. It even managed to get away with a record low coupon on one of the tranches.

Philippine company AC Energy found good support for a $300m fixed-for-life green perpetual bond on Wednesday, with demand from existing and new investors, as well as domestic fund managers.

Carlos ‘Sonny’ Dominguez, finance minister of the Philippines, has been forced to swap long-term planning for emergency responses to the coronavirus. He talks to GlobalCapital about what comes next.

Credit Suisse has named Mark Uy as its country manager for the Philippines, effective December 1.

Union Bank of the Philippines (UnionBank) made a rare outing in the dollar market on Thursday, competing with hefty supply from Greater China to raise $300m.