‘Appetite for bonds remains strong’
MANILA, Philippines — More companies are expected to continue tapping the domestic bond market amid recent developments on the local political front.
Philippine Dealing and Exchange Corp. (PDEx) president and CEO Antonino Nakpil is optimistic that corporate bond issuances this year will sustain their strength in the coming months, with year-to-date listing already reaching P65.7 billion.
“Our domestic investors remain hungry. People are looking for yield,” Nakpil said.
PDEx has set a P600-billion target for corporate bond issuances this year, which if achieved, can eclipse the existing record-high of P508.66 billion recorded in 2022.
“We’ll hope the listings will continue. I’m not saying that what happened last night (the arrest on Tuesday night of former president Rodrigo Duterte for crimes against humanity) is not historic. So, we’ll see. We’ll see what that will bring,” he said.
Asked if PDEx is still maintaining its corporate bond issuances target for the year at P600 billion, Nakpil said: “Why should I be bearish about it? Our firms need funds.”
Nakpil said that sectors that would drive this year’s bond issuances are real estate as well as holding companies.
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