Philippines

Philippine conglomerate San Miguel has closed senior syndication of its $1.1bn loan, attracting seven participants, according to a banker close to the situation.

The International Finance Corp (IFC) issued the first internationally rated triple-A green bond denominated in peso last week, raising $90m.

Philippine property developer DM Wenceslao & Associates has raised Ps8.5bn after pricing its IPO on the back of strong demand from domestic funds.

Del Monte Pacific has shelved the Ps17.6bn ($334.5m) IPO of its subsidiary Del Monte Philippines citing poor market conditions.

Del Monte Philippines has kicked off bookbuilding for an up to Ps17.6bn ($334.5m) IPO after winning approval from the country's stock exchange on Wednesday.

The Republic of the Philippines is looking at two benchmark sized transactions in the second half of the year, to be denominated in dollars and yen, a source at the Bureau of the Treasury told GlobalCapital Asia this week.

Philippine firm Rizal Commercial Banking Corp is seeking a $300m offshore loan via five mandated lead arrangers and bookrunners, according to a banker with knowledge of the deal.

Food and beverage company Del Monte Pacific has got the nod from the Philippine market regulator to spin off its local subsidiary, according to a stock exchange filing.

The pre-summer IPO season is in full swing as issuers and banks look to lock in deals before investors pack their bags for the holidays.

First Pacific Co is using a new $175m bond, as well as a bank loan, to help fund a tender offer, part of a liability management exercise.

Philippine real estate developer DM Wenceslao & Associates has found international interest for its potential Ps15.6bn ($296.6m) IPO, despite emerging markets being hit by increasing outflows.

Philippine National Bank, a rare credit in the offshore bond market, raised $300m from a new transaction on Thursday. But despite the novelty value of its deal, investors still demanded a new issue premium.