The world’s best borrowers in 2006
This is the second year in a row that the Republic of the Philippines has won Euromoney’s best sovereign borrower award. A call around all of the major debt capital markets desks confirmed that the choice this year was even clearer.
The republic tapped the market just three times in the past 12 months from five global bond issues, a sharp reduction on previous years. The new strategy that started the previous year marks a policy shift away from the tendency to tap existing issues that often upset incumbent investors.
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