megaworld-steps-up-with-new-highyield-debt-deal

Megaworld steps up with new high-yield debt deal

Unrated Philippine property developer becomes the first issuer to step into the DCM window and bring a deal to market.
Philippine real estate developer Megaworld on Friday July 28 became the first high-yield issuer to take advantage of the positive sentiment left in the wake of last weekÆs hugely successful Philippine sovereign deal, pricing an un-rated $100 million Reg-S, five-year bond offering in line with guidance.

UBS was the sole bookrunner on the deal, which was issued via MegaworldÆs SPV -Megaworld Cayman Islands

Initially announced in May, the deal was delayed when the markets turned sour. Indeed the high-yield market has been all but closed since May, leaving a number of deals sitting on the sideline awaiting an opportunity to come to market. That long-awaited issuance window looks to have materialised after the Philippines's $750...
¬ Haymarket Media Limited. All rights reserved.

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