Philippines hailed ‘top and most professional borrower’ in Asia

MANILA, Philippines – FinanceAsia named Philippines as this year’s Top Borrower and Most Professional Sovereign Borrower in Asia.

"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 Purisima said.

The Philippines just recently conducted its Domestic Management Transaction with total tenders amounting to P388 billion, considered as a show of force since it was executed in uncertain and troubled times.

Last year, the Philippines was also given Region’s Best Borrower Award for its innovative execution of a one-day accelerated switch tender offer in January 2014, its first transaction as an investment grade sovereign.

FinanceAsia will feature the results of their 2015 Fixed Income research poll, announce last September 11 in their upcoming printed bond market supplement.