Alliance Global prints $500 million debut security

Despite weaker markets, the Philippine holding company prints at the tight end of guidance to yield 6.625%.

It’s been a while since the market saw a corporate bond issued from the Philippines, but Alliance Global Group put an end to the quiet by pricing a debut $500 million bond yesterday evening August 12.

The last Philippine credit to come to market was International Container Terminal Services ICTSI, a shipping company that has sold $450 million of debt this year through two deals an initial $250 million 10-year bond, followed by a $200 million tap...

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