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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"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