More firms to raise funds from bond market

Categories: Business Updates

Date Posted: 22 Apr 2014

The Philippine Dealing and Exchange Corp. (PDEx) expects to grow by leaps and bounds the amount of money raised in the bond market as companies scramble to take advantage of the liquidity in the market as well as the low interest rate regime. PDEx president and chief operating officer Cesar Crisol said the P83.5 billion raised in the bond market last year could easily be surpassed this year as companies have already raised P81.8 billion. Companies that have tapped the bond market so far this year include JG Summit Holdings Inc. of taipan John Gokongwei, dominant carrier Philippine Long Distance Telephone Co. (PLDT), San Miguel Brewery Inc. of diversified conglomerate San Miguel Corp. (SMC), Filinvest Development Corp. of tycoon Andrew Gotianun, Manila North Tollways Corp. (MNTC) of infrastructure giant Metro Pacific Investments Corp. (MPIC), and multimedia giant ABS-CBN Corp.