Philippines and Stats ChipPac usher in new year with style

The Republic of the Philippines prices its Ps54.7 billion 25-year peso global, while Stats ChipPac kicks off the high-yield market with a $200 million bond.
January 07, 2011

The Republic of the Philippines (RoP) early yesterday morning priced its Ps54.7 billion ($1.25 billion) 25-year peso global bond. The coupon was the lowest ever achieved by the Philippine sovereign for a long-dated bond issue, an outcome which is remarkable given that it was done in its local currency.

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