MANILA: The Republic of the Philippines (ROP) has been named Top Borrower and Most Professional Sovereign Borrower in Asia by FinanceAsia.
The results of their 2015 Fixed Income research poll, announced September 11, will be featured in the magazine’s 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 concluded its Domestic Liability Management Transaction, with total tenders reaching P388 billion executed in uncertain and troubled times.
The award follows last year’s Region’s Best Borrower Award for the Republic of the Philippines, due to its innovative execution of an accelerated one-day switch tender offer in January 2014, its first transaction as an investment grade sovereign.