Double RFPs
Two RFPs for peso bond deals went out last month. Manila Electric (Meralco), the largest electricity distributor in the Philippines, sent out RFPs for a Ps5.5bn-Ps11bn corporate note issue. The notes are expected to be issued by mid-December. Two arranger groups are bidding for the deal, including one led by BDO Capital and the other led by First Metro. The company is looking to raise funds for general corporate and refinancing purposes.
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