PH to pioneer Asean+3 bond issuance program

The Philippines is aiming to be one of the pioneer countries to take part in the Asean+3 multi-currency bond issuance framework, an Asian Development Bank (ADB) initiative that would allow participating nations to facilitate bond issuances across each other’s jurisdictions.

Securities and Exchange Commission (SEC) chair Teresita Herbosa told reporters that the framework is similar to a multilateral agreement, under which corporations belonging to participating countries would enjoy preferential treatment in terms of issuing bonds in the host country, since the host-member countries will be obliged to accommodate such bond issuances under streamlined processes and with least restrictive requirements.