The Republic of the Philippines (ROP) has been named Top Borrower in the Philippines and Most Professional Sovereign Borrower in Asia by FinanceAsia. The results of their 2015 Fixed Income research poll, announced last 11 September 2015, will be featured in print in their upcoming FinanceAsia bond market supplement.
“This is very encouraging news; it shows the market has its confidence firmly placed in us and our performance as a sovereign borrower. Especially in these turbulent times, reputation is everything,” Finance Secretary Cesar V. Purisima said.
The Philippines has just recently concluded its Domestic Liability Management Transaction, with total tenders amounting to P388 billion—a show of force especially since it was executed in uncertain and troubled times.
This award follows last year’s Region’s Best Borrower Award for the Republic of the Philippines, due to its innovative execution of an accelerated 1-day switch tender offer last January 2014, its first transaction as an investment grade sovereign.
