Philippine bonds will only pick up post-upgrade

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Philippine bonds will only pick up post-upgrade

July 12, 2012

From Clare Hammond

Any pick-up in Philippine bonds will only happen after all three ratings agencies have upgraded the country to investment level, according to RBS.

The Philippines is on track for an upgrade to investment level but the bond market will likely only reflect the development once all three ratings agencies have implemented the change, according to RBS.

While equities tend to gain around 48%-89%...

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SOUTHEAST ASIA DCM

Rank

Bookrunner Parents

Deal Value $ (Proceeds) (m)

No.

%share

2012 YTD Rank

HSBC

4,160

8.3

Standard Chartered Bank

4,110

8.2

Goldman Sachs

3,666

7.3

Deutsche Bank

3,354

6.7

Citi

2,774

5.5

DBS

2,341

4.6

JPMorgan

2,288

4.5

CIMB Group

2,095

4.2

Siam Commercial Bank

1,835

3.6

RHB Capital Bhd

1,688

3.4

Subtotal

28,311

161

56.2

Total

50,423

249

100.0

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