three-mandated-for-new-philippine-bond-deal

Three mandated for new Philippine bond deal

The Republic of the Philippines looks to some old friends to complete its annual funding requirement.
The Republic of the Philippines has mandated Citigroup, Deutsche Bank and JPMorgan to lead a proposed dollar-denominated bond expected to be worth upwards of $1 billion. However because of the overriding weakness in the markets timing and structure has not yet been determined.

In January, the Philippines raised a record breaking $2.1 billion via a split $1.5 billion 25-year tranche and a Ç500 million 10-year tranche offering led by Citigroup, Credit Suisse, Deutsche Bank and UBS. Together, this represented the largest deal out of Asia since Hutchison Whampoa's multi-tranche fundraising in the autumn of 2003.

The Philippines needs $900 million to complete the remainder of its $3.1 billion in overseas funding target for...
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