Bond issue raises $1 billion
Article Abstract:
The Philippines was able to raise $1 billion from its emerging-market bond issue. The $1 billion that was raised was 25% larger than the expected $750 million, indicating a strong demand for emerging-market bond. The issuance of the bond was split into two tranches. The first was in addition to the country's existing 8.875% Apr 2008 bond and was priced at 435 basis points over the US Treasury benchmark. The other was a new 20-year bond that was priced at 475 basis points. The bonds were priced by J.P. Morgan, Morgan Stanley Dean Witter and Warburg Dillon Read.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Philippines raises hopes to ease its international debt
Article Abstract:
The Philippines has boosted hopes of cutting its international debt with another upgrade of credit ratings from Standard & Poors' Corp (S&P). The anticipated upgrade may lead to increased prices of bonds. S&P earlier elevated its rating on $4.4 billion of the Philippines' long-term foreign-currency debt from double-B to double-B-plus, and its ratings on around $10.7 billion of peso-denominated debt from triple-B-plus and single-A-2 to single-A-minus and single-A-1, respectively .
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Manila approves investment plan tied to IPOs for workers abroad
Article Abstract:
Philippine Pres. Fidel Ramos has approved rules for a program that will give Filipino overseas workers the opportunity to invest in initial public offerings. The program will most likely be patterned after the Small Investor Program which allocates 10% of public offerings with a size of at least $38.1 million to small investors. A small investor is defined as an individual whose investment does not exceed 10,000 pesos.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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