Napocor prints lowest ever Philippines dollar coupon
News article on the bond issue
posted by JD @ 12:14 PM
Tuesday, October 31, 2006
No longer limited to things I encounter at work.Insights from related talks/meeting/events. Basically a blog that helps me unwind and prevent information overload. Over time, however, this blog might overweight on capital markets, which is what my current job is all about.
About Me
- Name: JD
Asian comedy addict. Reads whatever is available. Rest includes watching a movie. Loves family dearly.
Previous Posts
- US$500 Million Notes due 2016; Statistics
- Pre-requisites before Pricing
- Financing 2006
- Export Credit Agencies
- Debt Service Coverage Ratio
- Bond issued below Par
- Daily PSALM Activities 2005
- Economic tango
- No business being in business?
- Approvals for Peso Borrowings
Felix sent me this " A great life is not about routine but doing something rare". Blogging at work is rare...hehehehe. My motivation to blog about work stemmed from my hate for it. As I have written before, I'll never appreciate what I do if I don't stop to savor it. To anyone who would like to see the steps on managing and coordinating a financing transaction of NPC/PSALM, here it is: (1) Discuss cahsflows with NPC. Inquire on what months they can no longer defer payments, (2) Request for internal approvals,(3)Release RFP, attach agreements and OC to update, (4) While awaiting results of RFP, coordinate with transaction counsel, route tentative scheds of due diligence [first draft - conference call, second draft - 3 days, following drafts - 1 day], (5) Mandate, schedule meet up with auditor, (6) One day post-mandate - Due Diligence, (7) Auditor, (8) Financial Due Diligence, (9) Investors calls, (10) Pricing - sign Purchase Agreement, (11) MB Final Approval, (12) Closing. In the first expedited transaction of NPC that was facilitated by PSALM, the glitches were (a) day count in teh final approval -- next time, just ask them to e-mail the soft copy, (2) appointment of process agent - immediately request DOF to represent us to the Consul General
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