The country's leading corporations continue to take advantage of the country's improved credit rating and lower borrowing rates.
Ayala Corporation 7-Year Fixed-Rate Bonds
The minimum purchase is 50,000 pesos, and additional amounts in multiples of 10,000. The bonds are callable up to the fourth year of issue (I briefly discussed the callable feature here). There are no pricing details yet, but currently 7-year corporate bonds yield around 6% per year, gross of taxes.
SM Investments Corporation 7- and 10-Year US Dollar Bonds
SMIC is targeting a yield of 4.625% for the seven-year dollar bond. While lower than comparable peso bonds, this is a good alternative to US dollar deposits for those who want to keep their funds in US dollars.
