Property giant Ayala Land Inc. (ALI) has unveiled its sixth series of Homestarter bonds worth P2 billion, targeting retail investors who wish to set aside funds that may be used as full or partial downpayment for the purchase of an Ayala Land property.
Conglomerate San Miguel Corp. is selling 10-year bonds at an initial price guidance of 5.125 percent a year as part of its newly established $2-billion Euro Medium Term Note (EMTN) program.
Tycoon Andrew Tan-led property developer Megaworld Corp. is returning to the offshore bond market after two years with an offering of 10-year dollar-denominated debt paper to be listed on the Singapore exchange.
The volume of transactions in the country’s Fixed Income Exchange (FIE) grew by a double-digit pace in 2012 as the favorable sentiment on the Philippines lifted demand for peso-denominated government and corporate bonds.
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After hitting record lows last year, interest rates on government securities may slow down further in 2013 as rising remittances and foreign portfolio investments boost demand for the virtually risk-free debt notes.
San Miguel Corp. (SMC) has launched a tender offer to buy back $600 million worth of convertible bonds as the aggressively expanding conglomerate tries to trim down debt levels.
Gokongwei-led conglomerate JG Summit Holdings has returned to the overseas bond market with a landmark $750-million offshore bond issue, the largest overseas corporate bond deal out of the Philippines.
Funds raised through the sale of corporate bonds in the domestic market surged by 34 percent in the first 10 months last year to P237.4 billion from P176.7 billion in the same period in 2011, data from the Bangko Sentral ng Pilipinas showed.
Interest rates on treasury bills stayed below 1 percent during Monday’s auction, with the yield on the 91-day securities plunging to a new record low of 0.05 percent.
The interest on the benchmark treasury bills eased slightly while those for the other two tenors rose amid an apparent continued correction despite investors remaining confident on the Philippine economy.
High liquidity and optimism on the economy pushed investors to swamp the auction Wednesday for the government’s $500-million onshore dollar bond issue.
