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Asian Development Bank issues peso-denominated bonds in Philippines

May 23, 2007, 7:27 GMT

Manila - The Asian Development Bank (ADB) said Wednesday it has issued five-year peso-denominated bonds worth 5 billion pesos (106.4 million dollars) in the Philippines. It was the second time for the Manila-based ADB to issue peso-denominated bonds since October 2005. The ADB said the peso bonds carry a fixed rate of 5.23 per cent per annum and are priced at 85 per cent of the five-year Philippine Government Security. 'This bond issue is another milestone in ADB's commitment to develop regional bond markets,' ADB Treasurer Mikio Kashiwagi said. 'It accentuates ADB's confidence in the Philippine capital markets and we are very grateful for the support of the Philippine authorities in making this transaction possible,' he added. Proceeds from the issue would be used for the ADB's ordinary capital resources and non-consessional operations. Since early 2004, the ADB has completed market-opening transactions in the region's local currency bond markets, including India, Malaysia, China and Thailand. © 2007 dpa - Deutsche Presse-Agentur

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