Philippines and Ayala Corp enter bond markets

As the sovereign prices its third euro-denominated offering, the country''s bluest chip launches a rare dollar borrowing.
February 13, 2003

The Republic of the Philippines continued its battle for acceptance with euro-denominated investors yesterday (Thursday), pricing a reduced Eu300 million bond. At the same time, Ayala Corp launched a $150 million five-year deal via JPMorgan, which is expected to price later today.

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