Filipino borrowers remain waiting in the wings

The market had been expecting that PLDT (Philippines Long Distance Telephone Company) would kick-start the autumn pipeline with its $500 million high yield bond via joint leads Credit Suisse First Boston and HSBC. However, while the 10-year deal is said to be ready to go, the two leads are believed to have decided to hold off for at least another week before making a final decision whether to proceed with roadshows.