Universal Robina completes bond

Philippines corporate brings Asia''s first bond deal of 2005.

Universal Robina Corporation URC, the Philippines largest snack food manufacturer, priced Asia's first bond deal of 2005 yesterday January 12. Under the lead of Credit Suisse First Boston and JPMorgan a $100 million issue was upsized to $125 million after order books closed at just over $350 million.

The BBBa3 rated issue has a seven-year maturity with a five year put option and was priced at 99.199% on a coupon of 8.25%....

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