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.

Jackie Horne

October 24, 2001

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.

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