Deals of the year – Top quality issuers succeed in demanding markets
The Republic of the Philippines was the first Asian borrower to tap the Eurobond market in 1999 when it launched a $1 billion transaction as early as January 7. The bond was the largest-ever capital markets financing by the republic and the first public transaction of the Estrada administration but was most significant for representing a reopening of the Asian market.
The issue was split into two equal tranches of $500 million each, one carrying a maturity of 10 years and the other 20 years.
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