BSP closes deal as DOF launches roadshows

The Philippines central bank pays a new issue premium to secure strong demand for its second international bond deal of the year.

An increased $350 million four year deal was priced by JPMorgan yesterday Wednesday at a 30bp Libor premium to the Philippines interpolated curve. In paying a premium, the bank stands virtually alone among the year's borrowers, but in doing so, has bowed to more difficult new issuance conditions in the wake of September 11.

The success of the deal, which started life as a $200 million offering, has been attributed to a three day spread rally and on a...

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  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...