It’s been a while since the market saw a corporate bond issued from the Philippines, but Alliance Global Group put an end to the quiet by pricing a debut $500 million bond yesterday evening August 12.
The last Philippine credit to come to market was International Container Terminal Services ICTSI, a shipping company that has sold $450 million of debt this year through two deals an initial $250 million 10-year bond, followed by a $200 million tap in April.
Alliance Global had initially announced the seven-year deal with the intention to print a $400 million bond, but strong investor appetite led the company to upsize the deal to $500 million. The...
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