Philippines opens the Asian bond market

A neat $1.5 billion trade from the Philippines has shown the way for other borrowers with plans to raise money in today's market.

Asia's dollar bond markets are open again thanks to a $1.5 billion sovereign bond offer by the Philippines, which needs the cash to help pay for an economic stimulus package.

Benchmark bond deals by the Philippines have become a familiar feature of the new year in recent times and the early-bird approach seems to have paid off once again. Thanks to its shelf registration with the Securities and Exchange Commission SEC in the US, the sovereign was able to...

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