A tale of two debt issuers

Asian borrowers have continued their assault on the Yen markets with the launch of deals for Kepco and the Republic of the Philippines.

Korea Electric Power Corporation Kepco and the Republic of the Philippines met with very contrasting receptions on the launch of new benchmark transactions yesterday Thursday. Where the former had a relatively smooth passage to market, the latter fell prey to overly ambitious expectations that Japanese investors refused to deliver.

The Philippines' inability to launch a market-friendly offering repeats a pattern that has become ever more evident with each passing deal and serves only to further infuriate an already exasperated investor base. Having launched a highly controversial offering in dollars in February and a failed deal in euros two months later, the Republic had been hoping to...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222