Bond issue raises $1 billion

Article Abstract:

The Philippines was able to raise $1 billion from its emerging-market bond issue. The $1 billion that was raised was 25% larger than the expected $750 million, indicating a strong demand for emerging-market bond. The issuance of the bond was split into two tranches. The first was in addition to the country's existing 8.875% Apr 2008 bond and was priced at 435 basis points over the US Treasury benchmark. The other was a new 20-year bond that was priced at 475 basis points. The bonds were priced by J.P. Morgan, Morgan Stanley Dean Witter and Warburg Dillon Read.

United States, National Government Bonds, Government securities

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Philippines raises hopes to ease its international debt

Article Abstract:

The Philippines has boosted hopes of cutting its international debt with another upgrade of credit ratings from Standard & Poors' Corp (S&P). The anticipated upgrade may lead to increased prices of bonds. S&P earlier elevated its rating on $4.4 billion of the Philippines' long-term foreign-currency debt from double-B to double-B-plus, and its ratings on around $10.7 billion of peso-denominated debt from triple-B-plus and single-A-2 to single-A-minus and single-A-1, respectively .

Government Bonds, Analysis, Evaluation, Bonds, Bonds (Securities), Credit ratings, External debts

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Manila approves investment plan tied to IPOs for workers abroad

Article Abstract:

Philippine Pres. Fidel Ramos has approved rules for a program that will give Filipino overseas workers the opportunity to invest in initial public offerings. The program will most likely be patterned after the Small Investor Program which allocates 10% of public offerings with a size of at least $38.1 million to small investors. A small investor is defined as an individual whose investment does not exceed 10,000 pesos.

Laws, regulations and rules, Stocks, Investments, Investors

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