ROP launches latest dollar linked notes tranche

Government sees overwhelming demand for third in the series of dollar-linked Peso notes.

The Republic of the Philippines pleased local bond market investors late last week with the launch of the third tranche from its US dollar-linked Peso notes DLPN programme. Deutsche Bank, Multinational Investment Bancorporation and Rizal Commercial Banking Corp. acted as joint financial advisors and lead managers for the Ps5 billion $93.4 million.

It is claimed that the program, in which the payments on the notes are linked to movements in the US$-Ps exchange rate, is the first of its kind in Asia.

The third tranche has a tenor of three years and offers a coupon of 7.375%. Principal repayments, made semi-annually, will be in Pesos.

Previously,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222