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MANILA, Jan 30 (Reuters) - Philippine companies are
expected to generate up to 450 billion pesos ($8.25 billion)
through bond issuance this year to fund expansion and repay
debt, the country's bond market operator said on Monday.
"Domestic investment liquidity is alive and well," Antonino
Nakpil, president and chief executive officer of the Philippine
Dealing & Exchange Corp (PDEX), told reporters.
PDEX sees companies raising 300 to 450 billion pesos via
bonds this year, he said, adding that big corporations and banks
would be active in the fixed income market.
Companies tapped the bond market to raise a record 508
billion pesos ($9.3 billion) last year, more than double the 213
billion pesos in 2021, PDEX data showed.
Despite an expected slowdown in the economy this year
because of inflation and higher interest rates, Philippine
companies are selectively pursuing expansion in sectors that
will benefit from the country's economic reopening.
As of the end of 2022, PDEX had 1.38 trillion pesos in
tradable corporate debt instruments issued by 53 companies
comprised of 196 types of securities.
($1 = 54.56 Philippine pesos)
(Reporting by Neil Jerome Morales
Editing by Ed Davies)
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