PSALM issues $1B in global bonds

Offering attracts $5.7B worth of bids.

MANILA, Philippines — The state-run Power Sector Assets and Management Liabilities Corp. successfully issued $1 billion in global bonds Wednesday, with the offering nearly six times oversubscribed as it attracted $5.7 billion in demand.

“We are pleased with the outcome of the transaction. It clearly highlights investors’ appreciation of the [Philippine government’s] credit and their confidence in the overall economic prospects of the country,” Finance Secretary Margarito B. Teves said in a joint statement with PSALM.

Read more..

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>