The Republic of the Philippines ROP is seriously considering issuing its first inflation-linked bond, according to banking sources. If it goes ahead, it will make the Philippines the next country in the region to issue syndicated inflation-linked debt after Thailand and Hong Kong, which both successfully closed inflation-linked bonds in July this year.
Bankers have been pitching an inflation-linked bond, also known as a linker, to the Philippines for some time -- as early as last year in fact. But with global bond markets frozen shut, the sovereign is now looking at this with renewed interest. The ROP has not sent out a request for proposals and, given that this...
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