The Rebisco group's banking arm Asia United Bank (AUB) plans to debut on the local
bond market and set up a bond program of as much as P30 billion, diversifying its funding source outside of deposit-taking.
It will encourage cross-border issuances, especially for corporations domiciled in those ASEAN countries still developing a fully functioning
bond market.
It was formed as an integral part of policy actions agreed under the Asian
Bond Market Initiative to promote the development of
bond markets, mainly by providing credit guarantees to ASEAN+3 bond issuers.
Synopsis: China's
bond market is destined to play an increasingly important role at home and abroad.
Speaking at the Botswana
Bond Market Association conference last week, Macroeconomic and Financial Management Institute, executive director, Dr Michael Antigi-Ego said developed
bond markets play an important role in the country's economy as they expand an opportunity for financing both government projects and the private sector.
The PRC remained the largest
bond market in terms of size in emerging East Asia, with 75.3% of the regions total outstanding bonds.
The ADB said developing a housing
bond market will help make houses become affordable for a greater number of people, especially those living in urban areas.
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bond market"The issuance not only supports the development of the Philippine
bond market but also ASEAN's efforts toward financial integration," he added.
This framework was created under the Asian
Bond Markets Initiative (ABMI), a joint effort by ASEAN+3 to promote local currency
bond market development.
